Upexi (NASDAQ: UPXI), a publicly traded company in the United States, has announced the completion of a $200 million private fundraising round, which includes approximately $50 million in common stock and $150 million in convertible bonds. The company stated that part of this funding will be used to expand its current operations, and the remainder will be used to increase its Solana assets.
Common stock was issued at a price of $4 per share, and CEO Allan Marshall has committed to buy at $4.94 per share, expected to be delivered on July 14. The convertible bonds have an annual interest rate of 2% and a fixed conversion price of $4.25 per share. They are backed by committed SOL investors and are expected to be delivered on July 16. The bond fundraising round is led by Big Brain Holdings.
After the fundraising is completed, the amount of Solana bonds held by Upexi will increase to approximately 1.65 million, more than double the previous figure of 736,000. The company plans to continue increasing its holdings of SOL stock through the raised capital in the coming weeks. A.G.P./Alliance Global Partners serves as the exclusive placement agent for this funding round.