Solana Treasury Firm Upexi raises $200 million to boost Sol Stash

Consumer Products Company Upexi announced on Friday that it is strengthening its Solana Treasury, raising $200 million to fund business operations and further SOL purchases.

The funds come from two separate funding instruments, with a net income of $50 million through stock offerings, and $150 million from the convertor sales. Each product is scheduled to close next week.

“Today, we announced a smash hit deal with a $150 million kindly convertible memo led by Big Brain Holdings and a $50 million equity private placement.” Posted on x. “Net revenue will be used to buy more SOL.”

The $150 million convertible note offering is collateralized via a locked spotsol provided by convertible note buyers, with two-year maturity and quarterly two-year interest rates of 2%.

Once the memo is provided, the SOL will become part of Upexi’s Solana Treasury.

The company first announced its intention to build a Ministry of Digital Assets Treasury, centered around Solana in April. $100 million funding Promote your initial purchase. That rise has increased by over 300% in a single day trading, sending shares of Upxi traded on Nasdaq.

With the latest additions, we expect the Treasury to have around 1.65 million SOLs or top 10 Crypto assets worth around $10. At 1.65 million Sol, Upexi holds nearly twice the amount of Solana, other well-known publicly traded Solana Treasury, Defi Development Corporation (DFDV).

UPXI stocks didn’t respond as vigorously as the news of their initial pay raises. As of the end of Friday, 7.8% of the day jumped to $5.39.

According to Google Finance data, UPXI fell nearly 58% after the first spike last month. Despite this, stocks have grown nearly 53% since the start of the year.

Solana has grown 3% over the past 24 hours, trading at $164.29. Sol reached its highest priced a month before Friday.