Solana Treasury Firm Upexi Raises $200 Million to Boost SOL Stash
2025-07-11 20:35:34
Main Idea
Upexi is raising $200 million to bolster its Solana treasury, increasing its SOL holdings to approximately 1.65 million, valued at around $270 million.
Key Points
1. Upexi is raising $200 million through a $50 million equity offering and a $150 million convertible note sale to fund business operations and further SOL purchases.
2. Upon completion, Upexi will hold approximately 1.65 million SOL, valued at around $270 million.
3. The $150 million convertible note offering is collateralized by locked, spot SOL with a 2-year maturity and 2% interest rate.
4. Shares of UPXI rose nearly 8% following the announcement, though they are down nearly 58% from their peak after the first raise.
5. Solana's price is up 3% in the last 24 hours, trading at $164.29.
Description
Publicly traded Upexi is poised to boast the largest Solana treasury stash once its latest funding round is completed.
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