Jul 11, 02:57 PM

Upexi Raises $200 Million to Double Solana Treasury

Upexi Inc., a Tampa-based consumer-products company that has been building a cryptocurrency treasury, said it has arranged a $200 million concurrent private placement to expand its holdings of Solana tokens. The financing is split between a $50 million sale of 12.5 million common shares at $4.00 each—$4.94 for management’s participation—and $150 million of two-year convertible notes carrying a 2% coupon and a fixed conversion price of $4.25. Big Brain Holdings is leading the note tranche, which is being subscribed with a mix of locked and spot SOL. A.G.P./Alliance Global Partners is serving as sole placement agent. Upexi expects the equity deal to close around July 14 and the note placement two days later, subject to customary conditions. Upon completion, the company projects its Solana treasury will more than double to roughly 1.65 million tokens from the current 736,000. Proceeds not immediately directed to cryptocurrency purchases will fund general corporate purposes and working capital, the company said.

#Solana #Big Brain Holdings #Upexi

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Upexi Raises $200 Million to Double Solana Treasury

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