# EDGAR Filing Document

**Accession Number:** 0001106838
**File Stem:** 0000899140-25-000852
**Filing Date:** 2025-7
**Character Count:** 13919
**Document Hash:** d197ad93cc34d7743aa563bb6f277f2f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000899140-25-000852.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0000899140-25-000852

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sonnet BioTherapeutics Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001106838
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 522102141
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-81795
- **FILM NUMBER:** 251151862

**BUSINESS ADDRESS:**
- **STREET 1:** 100 OVERLOOK CENTER
- **STREET 2:** SUITE 102
- **CITY:** PRINCETON
- **STATE:** NJ
- **ZIP:** 08540
- **BUSINESS PHONE:** 609-375-2227

**MAIL ADDRESS:**
- **STREET 1:** 100 OVERLOOK CENTER
- **STREET 2:** SUITE 102
- **CITY:** PRINCETON
- **STATE:** NJ
- **ZIP:** 08540

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Chanticleer Holdings, Inc.
- **DATE OF NAME CHANGE:** 20050510

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TULVINE SYSTEMS INC
- **DATE OF NAME CHANGE:** 20000214
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Republic Digital Opportunistic Digital Assets Master Fund, Ltd.
- **CENTRAL INDEX KEY:** 0002078198

**ORGANIZATION NAME:**
- **EIN:** 981662885
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231
- **LEGAL ENTITY IDENTIFIER:** 549300KS7DFXOKEJDA98

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** 149 5TH AVENUE
- **STREET 2:** 10TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 516-965-7531

**MAIL ADDRESS:**
- **STREET 1:** 149 5TH AVENUE
- **STREET 2:** 10TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Republic Digital Opportunistic Digital Asset Master Fund, Ltd.
- **DATE OF NAME CHANGE:** 20250722

## Exhibit 99.1

#### Exhibit 99.1

#### JOINT FILING AGREEMENT<br> PURSUANT TO RULE 13d-1(k)(1)

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein or therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that such person or entity knows or has reason to believe that such information is inaccurate. This agreement may be executed in any number of counterparts and all of such counterparts taken together shall constitute one and the same instrument.

Dated: July 25, 2025

---

| | |
|:---|:---|
| REPUBLIC DIGITAL OPPORTUNISTIC DIGITAL ASSETS MASTER FUND, LTD. | REPUBLIC DIGITAL OPPORTUNISTIC DIGITAL ASSETS MASTER FUND, LTD. |
| By: | /s/ Joseph Naggar |
| Name: | Joseph Naggar |
| Title: | Authorized Signatory<br>|
| JOSEPH NAGGAR | JOSEPH NAGGAR |
| By: | /s/ Joseph Naggar |
| Name: | Joseph Naggar |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Sonnet BioTherapeutics Holdings, Inc.

**Title of Class of Securities:** COM NEW

**CUSIP Number:** 83548R204

**Date of Event Which Requires Filing of this Statement:** 07/14/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Republic Digital Opportunistic Digital Assets Master Fund, Ltd. | Names of Reporting Persons<br>Republic Digital Opportunistic Digital Assets Master Fund, Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>260000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>260000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>260000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>260000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>4.2% | Percent of Class Represented by Amount in Row (9)<br>4.2% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** Calculations of the percentage set forth in Row 11 are based on the quotient obtained by dividing (a) the number of shares of Sonnet BioTherapeutics Holdings, Inc. Common Stock beneficially owned by the Reporting Persons as set forth in Row 9 by (b) the 6,264,165 shares of Common Stock outstanding as of July 18, 2025, as reported in the Issuer's current report on Form 8-K, as filed with the U.S. Securities and Exchange Commission on July 18, 2025.

---

| 1. | Names of Reporting Persons<br>Joseph Naggar | Names of Reporting Persons<br>Joseph Naggar |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>260000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>260000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>260000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>260000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>4.2% | Percent of Class Represented by Amount in Row (9)<br>4.2% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** Calculations of the percentage set forth in Row 11 are based on the quotient obtained by dividing (a) the number of shares of Sonnet BioTherapeutics Holdings, Inc. Common Stock beneficially owned by the Reporting Persons as set forth in Row 9 by (b) the 6,264,165 shares of Common Stock outstanding as of July 18, 2025, as reported in the Issuer's current report on Form 8-K, as filed with the U.S. Securities and Exchange Commission on July 18, 2025.

---

**Item 1(a). Name of Issuer:**
Sonnet BioTherapeutics Holdings, Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
100 Overlook Center, Suite 102, Princeton, New Jersey, 08540

**Item 2(a). Name of Person Filing:**
This Schedule 13G is being filed jointly by Republic Digital Opportunistic Digital Assets Master Fund, Ltd. ("Republic"), and Joseph Naggar ("Naggar"), who is the Chief Executive Officer and Chief Investment Officer of Republic Digital Fund Manager LLC, the Investment Manager of Republic. 

Republic and Mr. Naggar are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.

**Item 2(b). Address of Principal Business Office:**
The principal business address of the Reporting Persons is 149 5th Avenue, 10th Floor, New York, NY 10010.

**Item 2(c). Citizenship:**
Republic is organized as a limited company under the laws of Cayman Islands. Mr. Naggar is a citizen of the United States of America.

**Item 2(d). Title of Class of Securities:**
COM NEW

**Item 2(e). CUSIP Number:**
83548R204

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

(i) Republic - 260,000 shares of Common Stock
(ii) Naggar - 260,000 shares of Common Stock

**(b) Percent of class:**

(i) Republic - 4.15%
(ii) Naggar - 4.15%
The percentages set forth herein are based on 6,264,165 shares of Common Stock outstanding as of July 18, 2025,as reported in the Issuer's current report on Form 8-K, as filed with the U.S. Securities and Exchange Commission on July 18, 2025.
As of July 14, 2025, the Reporting Persons' beneficial ownership of the Issuer's Common Shares exceeded 5% of the 3,332,728 shares of Common Stock then-outstanding, thereby requiring the Reporting Persons to file this Schedule 13G pursuant to Rule 13d-1(c) under the Act. However, as of July 18, 2025, the Reporting Persons'  beneficial ownership had fallen below 5%, upon closing of a private placement offering and certain of the Issuer's outstanding warrants being exercised, and the number of shares of Common Stock outstanding increased by 2,931,437 shares of Common Stock to 6,264,165 shares of Common Stock outstanding. Accordingly, as of the date of filing of this Schedule 13G, none of the Reporting Persons' beneficial ownership remains above 5% of the shares of Common Stock outstanding.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

(i) Republic - 0
(ii) Naggar - 0

**(ii) Shared power to vote or to direct the vote:**

(i) Republic - 260,000
(ii) Naggar - 260,000

**(iii) Sole power to dispose or to direct the disposition of:**

(i) Republic - 0
(ii) Naggar - 0

**(iv) Shared power to dispose or to direct the disposition of:**

(i) Republic - 260,000
(ii) Naggar - 260,000

**Item 5. Ownership of Five Percent or Less of a Class.**

[ ] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Republic Digital Opportunistic Digital Assets Master Fund, Ltd.**

**Date:** 07/25/2025

**By:** /s/ Joseph Naggar

**Name & Title:** Joseph Naggar, Authorized Signatory

**Joseph Naggar**

**Date:** 07/25/2025

**By:** /s/ Joseph Naggar

**Name & Title:** Joseph Naggar