Public company Upexi has completed a private sale financing totaling 200 million USD.

PANews, July 11 news, Nasdaq-listed company Upexi announced that it has signed a securities purchase agreement with certain accredited investors, qualified purchasers, and institutional investors, as well as the company's CEO Allan Marshall, to purchase and sell 12,457,186 shares of common stock (or equivalent common stock substitutes) at a price of $4.00 per share (the price for management participation is $4.94 per share), with total proceeds of approximately $50 million ("equity issuance"). Simultaneously with the equity issuance, additional securities purchase agreements have been signed with certain institutional investors and accredited investors to purchase convertible notes, completing the subscription in the form of locked-up and spot SOL, with a total original principal amount of approximately 150 million dollars ("Note Issuance"). The convertible notes are secured by SOL provided by the respective holders. The interest rate on the convertible notes is 2.0%, paid quarterly, with a fixed conversion price of 4.25 dollars per share, and a term of 24 months. Big Brain Holdings is the lead investor. The issuance of the notes is expected to be completed around July 16, 2025, but is subject to customary closing conditions. The SOL (Solana) underlying this issuance will become part of the company's Solana asset portfolio after the transaction is completed. It is anticipated that after the bond issuance, approximately 1.65 million SOL will be held, more than doubling the previously disclosed balance of 735,692 SOL. The net proceeds from the stock issuance will be used in the coming weeks to acquire more SOL.