Subsequent Events (Details Narrative) - USD ($)
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1 Months Ended |
3 Months Ended |
9 Months Ended |
12 Months Ended |
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Jul. 11, 2026 |
Jul. 11, 2025 |
Dec. 10, 2024 |
Dec. 09, 2024 |
Nov. 07, 2024 |
Nov. 06, 2024 |
Jul. 31, 2025 |
Jun. 30, 2025 |
Dec. 09, 2024 |
Mar. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Oct. 31, 2024 |
Oct. 08, 2024 |
Sonnet BioTherapeutics Holdings, Inc. [Member] |
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Warrants to purchase shares |
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187,500
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Proceeds from offering |
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$ 10,500,000
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Gross proceeds |
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$ 7,803,453
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$ 3,899,157
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$ 3,896,577
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$ 21,006,371
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Gross proceeds exercise of warrants |
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$ 2,983,769
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$ 849
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Sonnet BioTherapeutics Holdings, Inc. [Member] | Registered Direct Offering [Member] |
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Offering price per share |
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$ 2.23
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Proceeds from offering |
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$ 3,400,000
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Sonnet BioTherapeutics Holdings, Inc. [Member] | Private Placement [Member] |
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Offering price per share |
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$ 2.23
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Sonnet BioTherapeutics Holdings, Inc. [Member] | Prefunded Warrant [Member] | Registered Direct Offering [Member] |
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Number of shares sold |
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768,000
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Warrants to purchase shares |
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317,325
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Exercise price |
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$ 0.0001
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Sonnet BioTherapeutics Holdings, Inc. [Member] | Prefunded Warrant [Member] | Private Placement [Member] |
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Number of shares sold |
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127,500
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Warrants to purchase shares |
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545,500
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Exercise price |
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$ 0.0001
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Sonnet BioTherapeutics Holdings, Inc. [Member] | Warrant [Member] | Registered Direct Offering [Member] |
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Warrants to purchase shares |
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1,085,325
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Exercise price |
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$ 2.10
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Warrants term |
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5 years
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Sonnet BioTherapeutics Holdings, Inc. [Member] | Warrant [Member] | Private Placement [Member] |
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Warrants to purchase shares |
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673,000
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Exercise price |
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$ 2.10
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Warrants term |
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5 years
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Sonnet BioTherapeutics Holdings, Inc. [Member] | Common Stock [Member] |
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Issuance of shares |
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98,846
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1,050,500
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163,281
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167,987
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104,159
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Underwriting Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Chardan Capital Markets LLC [Member] |
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Number of shares sold |
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155,000
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Proceeds from offering |
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$ 4,200,000
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Underwriting Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Chardan Capital Markets LLC [Member] | Prefunded Warrant [Member] |
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Warrants to purchase shares |
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956,111
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Offering price per share |
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$ 4.4999
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Exercise price |
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$ 0.0001
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Transaction Agreement [Member] | Forecast [Member] |
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Termination fee |
$ 2,500,000
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Reimbursement expenses |
1,000,000
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Transaction Agreement [Member] | RORSCHACH I LLC [Member] |
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Reimbursement expenses |
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$ 1,000,000
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Aggregate gross proceeds percentage |
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7.00%
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Transaction Agreement [Member] | RORSCHACH I LLC [Member] | Forecast [Member] |
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Termination fee |
$ 2,500,000
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Subsequent Event [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] |
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Warrants to purchase shares |
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3,421,624
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Proceeds from offering |
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$ 7,700,000
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Private placement |
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$ 2,000,000.0
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Share price |
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$ 1.156
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Gross proceeds offerings |
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$ 5,000,000.0
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Warrants |
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50,000
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Gross proceeds |
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10,500,000
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Gross proceeds exercise of warrants |
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$ 3,000,000.0
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Subsequent Event [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Dr Richard Kenney [Member] |
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Number of shares sold |
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160,000
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Warrants to purchase shares |
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86,505
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Private placement |
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$ 200,000
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Subsequent Event [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Common Stock [Member] |
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Warrants to purchase shares |
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865,052
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Exercise price |
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$ 1.156
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Issuance of shares |
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1,730,104
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Subsequent Event [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Common Stock [Member] | Dr Richard Kenney [Member] |
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Warrants to purchase shares |
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320,000
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Subsequent Event [Member] | Alkem Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] |
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Upfront payment receivable |
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$ 500,000
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$ 1,000,000.0
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Milestone payment receivable |
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$ 1,000,000.0
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Net payment after tax withholdings |
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$ 400,000
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Subsequent Event [Member] | Underwriting Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Chardan Capital Markets LLC [Member] |
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Number of shares sold |
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155,000
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Proceeds from offering |
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$ 4,200,000
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Subsequent Event [Member] | Underwriting Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Chardan Capital Markets LLC [Member] | Prefunded Warrant [Member] |
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Warrants to purchase shares |
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956,111
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Offering price per share |
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$ 4.4999
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Subsequent Event [Member] | Underwriting Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Chardan Capital Markets LLC [Member] | Warrant [Member] |
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Warrants to purchase shares |
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2,222,222
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Offering price per share |
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$ 4.50
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Subsequent Event [Member] | Definitive Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] |
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Proceeds from offering |
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$ 3,500,000
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Subsequent Event [Member] | Definitive Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Registered Direct Offering [Member] |
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Offering price per share |
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$ 2.23
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$ 2.23
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Subsequent Event [Member] | Definitive Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Private Placement [Member] |
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Offering price per share |
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$ 2.23
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$ 2.23
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Subsequent Event [Member] | Definitive Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Warrant [Member] | Registered Direct Offering [Member] |
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Warrants to purchase shares |
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1,085,325
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1,085,325
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Exercise price |
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$ 2.10
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$ 2.10
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Warrants term |
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5 years
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5 years
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Subsequent Event [Member] | Definitive Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Warrant [Member] | Private Placement [Member] |
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Warrants to purchase shares |
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673,000
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673,000
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Exercise price |
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$ 2.10
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Subsequent Event [Member] | Definitive Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Common Stock [Member] | Registered Direct Offering [Member] |
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Number of shares sold |
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1,085,325
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Subsequent Event [Member] | Definitive Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Common Stock [Member] | Private Placement [Member] |
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Number of shares sold |
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673,000
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Subsequent Event [Member] | Business Combination Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] |
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Private placement |
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$ 5,500,000
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Convertible notes |
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$ 2,000,000.0
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Subsequent Event [Member] | Business Combination Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Convertible Preferred Stock [Member] |
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Number of shares sold |
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5,500
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Subsequent Event [Member] | Business Combination Agreement [Member] | Sonnet BioTherapeutics Holdings, Inc. [Member] | Common Stock [Member] |
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Number of shares sold |
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4,400,000
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Warrants to purchase shares |
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8,800,000
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Subsequent Event [Member] | Transaction Agreement [Member] |
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Offering price per share |
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$ 1.25
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Cash Acquired from Acquisition |
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$ 200,000,000.0
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Dividends Payable, Amount Per Share |
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$ 1.25
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Subscription agreement description |
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Pursuant to the terms of the Transaction Agreement, the amount of cash proceeds to Sonnet at the Closing from the Subscription Agreements, the Contribution Agreements
and the Initial PIPE Offering (as defined below) must equal at least $50 million. Concurrently with the signing of the Transaction Agreement,
the Company received commitments from investors to contribute $305 million in cash and 12.6 million of HYPE tokens. Of these commitments,
affiliates of the Company committed $41 million of cash and 46,500 of HYPE tokens.
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Transaction agreement description |
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Also
pursuant to the terms of the Transaction Agreement, at the Closing the Company shall issue to the Advisor (as defined below) (i)
that number of shares of Pubco Common Stock equal to 5% of the shares of Pubco Common Stock issued and outstanding, on a fully-diluted,
as converted basis, immediately following the Effective Time and (ii) warrants (the “Advisor Warrants”) to purchase a number
of shares of Pubco Common Stock equal to, in the aggregate, 15% of the fully diluted number of outstanding shares of Pubco Common Stock
immediately after Closing. The Advisor Warrants will be exercisable for five years following the Closing, at an exercise price equal
to (i) for one-third of the Advisor Warrants, $1.875, (ii) for one-third of the Advisor Warrants, $2.50 and (iii) for one-third of the
Advisor Warrants, $3.75.
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Subsequent Event [Member] | Transaction Agreement [Member] | RORSCHACH I LLC [Member] |
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Offering price per share |
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$ 1.25
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Cash Acquired from Acquisition |
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$ 200,000,000.0
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Dividends Payable, Amount Per Share |
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$ 1.25
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Subscription agreement description |
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Pursuant to the terms of the Transaction Agreement, the amount of cash proceeds to Sonnet at the Closing from the Subscription Agreements, the Contribution Agreements and the
Initial PIPE Offering (as defined below) must equal at least $50 million. Concurrently with the signing of the Transaction Agreement,
the Company received commitments from investors to contribute $305 million in cash and 12.6 million of HYPE tokens. Of these commitments,
affiliates of the Company committed $41 million of cash and 46,500 of HYPE tokens.
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Transaction agreement description |
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Also
pursuant to the terms of the Transaction Agreement, at the Closing Pubco shall issue to the Advisor (as defined below) (i) that number
of shares of Pubco Common Stock equal to 5% of the shares of Pubco Common Stock issued and outstanding, on a fully-diluted, as converted
basis, immediately following the Effective Time and (ii) warrants to purchase a number of shares of Pubco Common Stock equal to, in the
aggregate, 15% of the fully diluted number of outstanding shares of Pubco Common Stock immediately after Closing. The Advisor Warrants
will be exercisable for five years following the Closing, at an exercise price equal to (i) for one-third of the Advisor Warrants, $1.875,
(ii) for one-third of the Advisor Warrants, $2.50 and (iii) for one-third of the Advisor Warrants, $3.75.
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