Upexi, working with Solana, has announced the signing of a $500 million credit line agreement with Alliance Global Partners. This agreement allows the company to raise additional funds for financing its operations.
Features of the Credit Line
According to the announcement, Upexi will be able to sell up to $500 million of common stock under this agreement to cover general corporate expenses and finance the SOL acquisition. Upexi CEO Allan Marshall noted that 'this credit line provides Upexi with additional capital raising flexibility and the ability to grow its Solana position.'
Upexi's Role in the Crypto Industry
Upexi attracted attention as one of the first small-cap companies to announce its intention to include an altcoin like Solana on its balance sheet. This approach quickly became a widespread trend in the cryptocurrency industry. Marshall added that the deal was executed with zero fees and very advantageous terms.
Data on Solana in Upexi's Portfolio
Currently, Upexi holds 1.9 million SOL, with a total value of over $381 million.
The signing of the $500 million credit line agreement opens new horizons for Upexi in the cryptocurrency realm. This underscores the growing role of the company in the Solana market and its intention to take an active position in the crypto industry.
