Upexi Announces $200 Million Funding Round, to be Used to Increase SOL Holdings

On July 11, Upexi, Inc. (Nasdaq: UPXI) announced the completion of two rounds of financing, totaling $200 million. The company raised approximately $50.00 million through a private placement of common stock at a price of $4.00 per share; it also issued $150.00 million in convertible bonds with an annual interest rate of 2% and a maturity of 24 months, with 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. Part of the proceeds from the stock issuance will be used for the company's existing business operations and general corporate purposes, and the remaining funds will be invested in the Solana treasury strategy. The company plans to continue to increase its $SOL holdings in the coming weeks. [Deep Wave TechFlow]