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Midas Edge

Hyperliquid Strategies Inc

For the period ended Dec 31, 2025. Filed Feb 11, 2026.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Dec 31, 2025 · Filed Feb 11, 2026

PURR$8.91+1.1%Stored close · as of Nov 9, 2026

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Contents

Item 6. Exhibits

The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.

No.Description of Exhibit
3.1Amended and Restated Certificate of Incorporation, dated December 2, 2025 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 001-42985), filed with the SEC on December 3, 2025).
3.2Certificate of Designation of Series A Preferred Stock (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K (File No. 001-42985), filed with the SEC on December 3, 2025).
3.3Amended and Restated Bylaws, dated December 2, 2025 incorporated by reference to Exhibit 3.3 to the Company’s Current Report on Form 8-K (File No. 001-42985), filed with the SEC on December 3, 2025.
4.1Form of Advisor Warrant (incorporated by reference to Exhibit D of Exhibit 2.1 to Sonnet’s Current Report on Form 8-K (File no. 001-35570), filed with the SEC on July 14, 2025).
10.1Advisor Rights Agreement, dated as of December 2, 2025, between Hyperliquid Strategies Inc and Rorschach Advisors LLC (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K (File No. 001-42985), filed with the SEC on December 3, 2025).
10.2Strategic Advisor Agreement, dated as of December 2, 2025, between Hyperliquid Strategies Inc and Rorschach Advisors LLC (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K (File No. 001-42985), filed with the SEC on December 3, 2025).
10.3Contingent Value Rights Agreement, dated as of December 2, 2025, between Hyperliquid Strategies Inc and Continental Stock Transfer & Trust Company (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K (File No. 001-42985), filed with the SEC on December 3, 2025).
10.4Registration Rights Agreement, dated December 2, 2025 (incorporated by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K (File No. 001-42985), filed with the SEC on December 3, 2025).
10.5Hyperliquid Strategies Inc 2025 Equity Incentive Plan (incorporated by reference to Annex I to the Company’s Form S-4/A (File no. 333-290034), filed with the SEC on October 6, 2025).
10.6ChEF Purchase Agreement, dated as of October 22, 2025, between the Company and Chardan Capital Markets LLC (incorporated by reference to Exhibit 10.42 to the Company’s Form S-1 (File no. 333-291017), filed with the SEC on October 22, 2025).
10.7Registration Rights Agreement, dated as of October 22, 2025, between the Company and Chardan Capital Markets LLC (incorporated by reference to Exhibit 10.43 to the Company’s Form S-1 (File no. 333-291017), filed with the SEC on October 22, 2025).
10.8Business Combination Agreement, dated as of July 11, 2025 (incorporated by reference to Exhibit 2.1 to Sonnet BioTherapeutics Holdings. Inc.'s Current Report on From 8-K (File No. 001-35570), filed with the SEC on July 14, 2025.
10.9Amendment No. 1 to Business Combination Agreement, dated as of September 22, 2025 (incorporated by reference to Exhibit 2.2 to the Company’s Current Report on Form 8-K (File No. 001-42985), filed with the SEC on December 3, 2025).
31.1*Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2**Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INSInline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
101.SCHInline XBRL Taxonomy Extension Schema With Embedded Linkbase Documents
104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
  • Filed herewith.

** These certifications are furnished to the SEC pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.