[Sonnet Postpones Merger Vote to December 2] U.S. publicly traded company Sonnet Biotherapeutics has postponed its merger vote to December 2. Previously, on July 14, Sonnet Biotherapeutics agreed to a merger deal valued at $888 million. After the merger, the company will be renamed Hyperliquid Strategies and will launch the HYPE treasury strategy. The merger target is Rorschach I LLC, a newly established entity sponsored by Atlas Merchant Capital LLC, Paradigm Operations LP, and other affiliated entities and sponsors. Upon completion of the transaction, Hyperliquid Strategies is expected to hold 12.6 million HYPE tokens and $305 million in cash, with a total valuation of approximately $888 million. The company will continue to trade on Nasdaq, with its stock code changing to reflect its status as a publicly listed cryptocurrency treasury company.