The Hyperliquid Strategies [$SONN] merger passed. However, the CEO in an interview in early November, to me anyway, made it clear that their plan is to accumulate $HYPE using OTC as their preferred avenue, rather than open market purchases. I think optically, they will of course purchase *some* on the open market, but saying things like “ we want to do it as efficient as possible” and “we are all set up in the OTC regards”, gives off that vibe. i.e they want the best execution/avg price/not to skew chart. Might be tough to find $250m~ of sellers in such a short period, but lines up nicely with team unlocks + the Paradigm sinister angle which I touched on in the post below. We shall see, still quite tradable, if open market purchases do occur - I also think the timeline of acquiring said $HYPE will be relatively soon [3-10 days].