Upexi completes $200 million financing, plans to continue increasing its holdings in Solana

ChainCatcher news, according to official sources, the U.S. listed company Upexi (NASDAQ: UPXI) announced the completion of a financing round totaling $200 million, which includes approximately $50 million in common stock and $150 million in convertible notes. The company stated that part of the funds will be used for the expansion of existing business, while the remainder will be used to increase its holdings in Solana assets.

The common stock is issued at $4 per share, with CEO Allan Marshall subscribing at $4.94 per share, and the closing is expected on July 14. The convertible notes have an annual interest rate of 2%, with a fixed conversion price of $4.25 per share, supported by investors staking SOL, and the closing is expected to be completed on July 16. This note financing is led by Big Brain Holdings.

After the financing is completed, Upexi's Solana holdings will increase to approximately 1.65 million, more than doubling from the previous 736,000. The company plans to continue increasing its SOL holdings with the proceeds from equity financing in the coming weeks. This round of financing is exclusively managed by A.G.P./Alliance Global Partners as the private placement agent.