Upexi plans to raise $23 million to strengthen its SOL treasury strategy

ChainCatcher News, according to official sources, 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. The warrants have an exercise price of $4 and are valid for 48 months.

This private placement price is higher than the market price under Nasdaq market rules. The company expects to initially raise approximately 100 millions USD, and if all warrants are exercised, it will receive an additional 130 millions USD. The transaction is expected to be completed on December 1, and the funds raised 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 more than 2 million SOL and creates value through three main mechanisms: smart capital issuance, staking, and discounted locked token purchases.