Upexi Soars 13.67% on $100M Crypto Pivot

Upexi's stock surged 13.67% in pre-market trading on April 23, 2025, driven by significant developments in the company's strategic initiatives.

Upexi has successfully completed a $100 million private placement, selling 43,859,649 shares of common stock at $2.28 per share. This funding round was led by GSR and included participation from prominent crypto venture capital firms and angel investors.

The company plans to allocate approximately $5.3 million for working capital and debt reduction, with the remaining funds earmarked for establishing and expanding its Solana treasury operations. This strategic move is aimed at leveraging the growing potential of the cryptocurrency market, particularly Solana, to drive future growth and innovation.

Upexi's bold pivot into cryptocurrency has garnered significant attention and investment, reflecting the market's confidence in the company's vision and execution. The private placement is expected to close on or around April 24, 2025, marking a pivotal moment in Upexi's transformation into a leading player in the crypto space.