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Upexi announces completion of $200 million financing for additional SOL holding
BlockBeats News, July 11th, Upexi, Inc. (Nasdaq: UPXI) announced the completion of two rounds of financing totaling $200 million. The company privately placed common stock at a price of $4 per share, raising approximately $50 million; simultaneously issued $150 million in convertible bonds with a 2% annual interest rate, a 24-month maturity, and a conversion price of $4.25 per share.
This financing will significantly increase Upexi's Solana (SOL) holdings. It is expected that after the transaction is completed, the company will hold approximately 1.65 million SOL, more than double the previously disclosed 735,000 SOL. Proceeds from part of the stock issuance will be used for the company's existing business operations and general corporate purposes, while the remaining funds will be invested in a Solana treasury strategy. In the coming weeks, the company plans to continue to increase its SOL holdings.
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