Upexi Completes $200 million Private Placement, Plans to Further Increase Holdings of Solana

U.S. stock market-listed company Upexi (Nasdaq: UPXI) announced the completion of a $200 million private placement, including approximately $50.00 million in common stock and $150.00 million in convertible notes. The company stated that part of the funds will be used for the expansion of existing businesses, and the rest will be used to increase its holdings of Solana assets.
The common stock was issued at $4.00 per share, and CEO Allan Marshall subscribed at $4.94 per share, which is expected to be delivered on July 14. The convertible notes have an annual interest rate of 2%, a fixed conversion price of $4.25 per share, and are supported by $SOL staking by investors. Delivery is expected to be completed on July 16. The note financing was led by Big Brain Holdings.
After the completion of the financing, Upexi's Solana holdings will increase to approximately 1.65 million, more than double the previous 736,000. The company plans to continue to increase its holdings of $SOL with equity financing in the coming weeks. A.G.P./Alliance Global Partners served as the exclusive private placement agent for this round of financing. [Odaily Planet Daily]