Upexi has announced its intention to raise $200 million to fund its business operations and further purchase Solana. The funds will be raised through two separate financing mechanisms.
Funding Plans
Upexi, known for its consumer products, has outlined plans to bolster its treasury with $200 million specifically targeted for Solana acquisitions.
Financing Details
According to the company’s statement, Upexi plans to execute a $150 million convertible note offering and a $50 million equity private placement. These notes will be secured by locked SOL tokens from the purchasers, with a maturity of two years and an interest rate of 2% payable quarterly.
Market Reaction to the News
Following the initial announcement about raising $100 million to establish a Solana treasury, Upexi's shares surged by 335%. Currently, however, the stock has seen only a 7.8% increase post-new announcement, though year-to-date, the shares have appreciated by 53%.
Upexi continues to actively expand its holdings in the cryptocurrency sector, with plans to increase its Solana purchases highlighting the company's strategy for diversification and financial strengthening.
