Document And Entity Information |
Dec. 02, 2025 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K/A |
| Amendment Flag | true |
| Document Period End Date | Dec. 02, 2025 |
| Entity Registrant Name | Hyperliquid Strategies Inc |
| Entity Central Index Key | 0002078856 |
| Entity Emerging Growth Company | true |
| Entity File Number | 001-42985 |
| Entity Incorporation, State or Country Code | DE |
| Entity Tax Identification Number | 39-3284080 |
| Entity Address, Address Line One | 477 Madison Avenue, 22nd Floor |
| Entity Address, City or Town | New York |
| Entity Address, State or Province | NY |
| Entity Address, Postal Zip Code | 10022 |
| City Area Code | 212 |
| Local Phone Number | 883-4330 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Entity Ex Transition Period | false |
| Title of 12(b) Security | Common Stock, par value $0.01 per share |
| Trading Symbol | PURR |
| Security Exchange Name | NASDAQ |
| Amendment Description | On December 3, 2025, Hyperliquid Strategies Inc (the “Company”) filed a Current Report on Form 8-K (the “Closing Form 8-K”) announcing the consummation of its previously announced business combination (the “Business Combination”) pursuant to that certain Business Combination Agreement, dated as of July 11, 2025 (as amended on September 22, 2025, the “BCA”), by and among the Company, Sonnet BioTherapeutics Holdings, Inc. (“Sonnet”), Rorschach I LLC, TBS Merger Sub Inc. (“Sonnet Merger Sub”) and Rorschach Merger Sub, LLC. Pursuant to the BCA, among other things, Sonnet Merger Sub was merged with and into Sonnet, with Sonnet surviving such merger as a direct wholly owned subsidiary of the Company. This Amendment No. 1 on Form 8-K/A (this “Amendment”) is being filed solely for the purpose of supplementing Items 9.01(a) and 9.01(b) of the Closing Form 8-K to provide the required financial statements of Sonnet, as specified in Rule 3-05 of Regulation S-X, and the pro forma financial information required in connection with the Business Combination pursuant to Article 11 of Regulation S-X. This Amendment should be read in conjunction with the Closing Form 8-K. The pro forma financial information included as Exhibit 99.2 to this Amendment has been prepared for informational purposes only as required by Form 8-K, and is not intended to, and does not purport to, represent what the Company’s actual results or financial condition would have been if the Business Combination had been consummated on September 30, 2025, and is not intended to project the future results or the financial condition of the Company. Except as set forth herein, no modifications have been made to the information contained in the Closing Form 8-K, and the Company has not updated any information therein to reflect events that have occurred since the date of the Closing Form 8-K. |