Upexi announces a $23 million private placement plan

Upexi, Inc. (NASDAQ: UPXI) announced that it has entered into a securities purchase agreement with a single institutional investor to issue approximately 3.29 million shares of common stock at a price of $3.04 per share, along with an equal number of warrants, with an exercise price of $4 and a term of 48 months.

The private placement price is above the market price under NASDAQ market rules. The company expects to raise approximately $100 million initially, and if the warrants are fully exercised, it will receive an additional $130 million. The transaction is expected to close on December 1, and the proceeds will be used for working capital, general corporate purposes, and Solana maximum return strategies.

As a digital asset company focused on Solana, Upexi currently holds over 2 million SOL and creates value through three main mechanisms: smart capital issuance, staking, and discounted token purchases.