Form 4 for PURR Hyperliquid Strategies Inc
Accepted 2025-12-12 00:00:00 ET · period of report 2025-12-02 · accession 0001193125-25-317191 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DI | 2025-12-12 | 2025-12-02 | PURR | TUDER JEFFREY | Dir | J - Other | — | +8,188 | 8,188 | New | — |
| DI | 2025-12-12 | 2025-12-02 | PURR | TUDER JEFFREY | Dir | J - Other | — | +16.0K | 16.0K | New | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2025-12-02 | J | A | 8,188 | — | 8,188 | I See Footnote | — | — | (F1) On December 2, 2025, Hyperliquid Strategies Inc (the "Company") completed its previously announced business combination (the "Closing"), pursuant to the 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. and Rorschach Merger Sub, LLC . In connection with the Closing, Tremson Capital Management, LLC ("Tremson") received 8,188 shares of common stock, par value $0.01 per share, of the Company (the "Common Stock"), in exchange of certain securities of Sonnet Tremson held prior to the Closing. (F2) The securities are held directly by Tremson and indirectly by Jeffrey Tuder, managing member of Tremson. Mr. Tuder disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. |
| 2 | Derivative | Warrants | 2025-12-02 | J | A | 16,000 | — | 16,000 | I See Footnote | $6.25 · 2025-12-02 to 2025-07-14 | 16,000 Common Stock | (F3) In connection with the Closing, Tremson received warrants to purchase an aggregate of 16,000 shares of Common Stock, at an initial exercise price of $6.25 per share, in exchange of certain warrants of Sonnet Tremson held prior to the Closing. (F2) The securities are held directly by Tremson and indirectly by Jeffrey Tuder, managing member of Tremson. Mr. Tuder disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. |