Upexi Signs Private Placement Deal to Raise $19.5 Million

Upexi, a Nasdaq-listed Solana treasury company, said it has signed a securities purchase agreement to sell about 12.24 million shares of common stock, or the equivalent in pre-funded warrants, in a private placement at an issuance price of about $1.60 per share. According to Odaily, the offering is expected to raise total gross proceeds of $19.5 million. Upexi said it plans to use the new funds to repay existing debt and continue increasing its strategic reserve of SOL assets.