Upexi, a NASDAQ-registered consumer goods and cryptocurrency-focused brand, has announced the successful completion of its $200 million private finance round. The round included stock issuances and sales of convertible debt, with a significant portion of the investment generated in Solana (SOL).
According to a press release from the company, the funds are made up of two parts.
- $50 Million Stock Services: CEO Allan Marshall joined in, selling 12,457,186 shares for $4.00 per share (management $4.94). A portion of the proceeds will be used to fund current business operations and general working capital. The rest will be directly invested in Upexi’s strategy to grow the Solana Treasury.
- $150 million Convertible Bond Sale: The unit issued bonds in exchange for lock-in and spotsol. Institutional investors, including Big Brain Holdings, have joined the bond issue. Interest rates were set at 2% and conversion price was fixed at $4.25 per share. The maturity date is 24 months.
The company reported that these bond agreements will increase Solana reserves to around 1.65 million, more than double the previously announced holdings of Sol 735,692.
The issuance of convertible debt is expected to close on July 16, 2025, and the issuance of shares is expected to close on July 14, 2025. More SOL acquisitions are planned in the coming weeks with net revenue.
*This is not investment advice.
