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Upexi Raises $150 Million for Solana Accumulation

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by Giorgi Kostiuk

4 hours ago

Upexi has announced a new capital raise of $150 million aimed at accumulating Solana and supporting operations.

Capital Raising Strategy

Upexi utilized a dual-track strategy for raising new funds: through equities and crypto-backed bonds. CEO Allan Marshall and others acquired over 12 million shares at a $4.00 offering price.

Plans for Solana Accumulation

Part of the raised funds will support daily operations while a significant portion is directed towards Solana accumulation. Following this process, Upexi's Solana holdings will increase to approximately 1.65 million SOL.

Institutional Investors and Future Steps

Additionally, Upexi executed a $150 million convertible bond sale backed by Solana assets. The bonds carry a 2% interest rate and can be converted into equity at $4.25 per share. Notable institutional players, including Big Brain Holdings, participated in the round. The bonds are set to mature in two years.

Upexi aims to finalize the equity portion by July 14 and the bond tranche by July 16, highlighting the growing interest in accumulating Solana.

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