Upexi, a Nasdaq-listed consumer goods and cryptocurrency-focused label, announced the winning completion of a $200 million non-public financing spherical. The spherical incorporated a stock issuance and convertible bond gross sales, with a major fragment of the investments denominated in Solana (SOL).
In keeping with the company’s press free up, this funding consists of two parts:
- $50 million stock offering: Attended by CEO Allan Marshall, 12,457,186 shares were supplied at $4.00 per half ($4.94 for administration). A fragment of the proceeds would perchance be passe to finance most modern commercial operations and frequent working capital. The relaxation would perchance be straight invested in Upexi’s technique to grow the Solana treasury.
- $150 million convertible bond sale: In this unit, the bonds were issued in change for locked-in, contrivance SOL. Institutional investors, including Colossal Brain Holdings, participated on this bond venture. The price of interest used to be contrivance at 2%, and the conversion note used to be mounted at $4.25 per half. The maturity date is 24 months.
The company reported that these bond agreements will raise Solana reserves to roughly SOL 1.65 million, better than doubling the previously announced holdings of SOL 735,692.
The convertible bond issuance is expected to end on July 16, 2025, and the equity issuance is expected to end on July 14, 2025. Extra SOL acquisitions are planned within the approaching weeks with the bring collectively proceeds.
*This isn’t any longer funding advice.
