Upexi Raises $200 Million in Private Financing Round Denominated in Solana

Upexi, a Nasdaq-listed company specializing in consumer goods and cryptocurrency, has successfully completed a $200 million private financing round. This round involved both a stock issuance and convertible bond sales, with a notable portion of the investments denominated in Solana (SOL).

The financing round is divided into two main components. The first is a $50 million stock offering, where 12,457,186 shares were sold at $4.00 per share to the public and $4.94 per share to management. The proceeds from this offering will be allocated to finance current business operations, general working capital, and to bolster Upexi's Solana treasury. The second component is a $150 million convertible bond sale, which involved the issuance of bonds in exchange for locked-in, spot SOL. Institutional investors, including Big Brain Holdings, participated in this bond issue. The bonds carry an interest rate of 2%, with a conversion price set at $4.25 per share and a maturity date of 24 months.

According to the company's press release, these bond agreements are expected to increase Solana reserves to approximately 1.65 million SOL, more than doubling the previously announced holdings of 735,692 SOL. The convertible bond issuance is anticipated to close on July 16, 2025, while the equity issuance is expected to close on July 14, 2025. Further acquisitions of SOL are planned in the coming weeks using the net proceeds from these transactions.

This substantial investment in Solana by Upexi underscores the company's strategic focus on cryptocurrency and its commitment to expanding its digital asset holdings. The move is likely to garner attention from investors and analysts, as it demonstrates Upexi's confidence in the future of Solana and its potential for growth. The decision to denominate a significant portion of its financing in SOL also highlights the increasing acceptance of cryptocurrencies as a viable investment option.