Upexi has secured $200 million through a combination of equity and cryptocurrency-backed bonds to expand its Solana holdings into a $273 million reserve. This strategic move utilizes a hybrid financing model blending traditional equity with crypto-collateralized debt instruments.
CEO Allan Marshall and company insiders acquired over 12 million shares priced at $4.00 each in the equity portion of the funding. Simultaneously, Upexi issued $150 million in convertible bonds carrying a 2% annual interest rate. These bonds mature in two years and can be converted into equity at $4.25 per share, with the debt collateralized by locked Solana holdings.
With the fresh capital, Upexi plans to substantially increase its SOL holdings to approximately 1.65 million tokens – more than doubling its current position. This expansion establishes Upexi among the largest Solana holders and may influence SOL market liquidity.
The financing strategy provides a blueprint for other companies exploring hybrid models that integrate conventional and cryptocurrency-backed funding solutions. This initiative underscores growing institutional confidence in Solana’s long-term value proposition and reflects heightened corporate adoption of crypto-collateralized financial instruments.