{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-025886","form_type":"8-K","ticker":"PURR","cik":"0002078856","company_name":"Hyperliquid Strategies Inc","filed_at":"2025-12-03T23:59:59+00:00","discovered_at":"2026-05-14T18:02:41.556178+00:00","generated_at":"2026-05-16T15:32:52.057751+00:00","sec_items":["2.01","1.01","3.02","3.03","5.03","5.01","5.02","5.05","7.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.9,"confidence":"high","headline":"Hyperliquid Strategies completes business combination; trades as PURR on Nasdaq Dec 3","bullets":["Closed acquisition of Sonnet BioTherapeutics and Rorschach I LLC; combined entity has ~127M shares outstanding.","New board of eight directors including Bob Diamond, Eric Rosengren, Thomas King; David Schamis remains CEO.","Issued to advisor warrants for up to 27.4M shares at exercise prices $9.375, $12.50, and $18.75.","Stock begins trading on Nasdaq Capital Market under ticker PURR on December 3, 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-025886","json":"https://secwatch.observer/filing/0001493152-25-025886.json","markdown":"https://secwatch.observer/filing/0001493152-25-025886.md","text":"https://secwatch.observer/filing/0001493152-25-025886.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2078856/000149315225025886/0001493152-25-025886-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2078856/000149315225025886/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T15:32:52.057751+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}