E-commerce conglomerate Upexi has secured $200 million in funding to significantly expand its Solana (SOL) treasury holdings. The financing comprises a $50 million equity private placement and a $150 million in-kind convertible note offering.
Upon deployment, these funds will grow Upexi’s SOL treasury to approximately 1.65 million tokens—valued at $270 million—establishing the company as Solana’s largest publicly known token holder. The funding aims to bolster operations while accelerating SOL accumulation.
The convertible notes carry a two-year maturity with a 2% annual interest rate. Proceeds from the equity portion will support corporate scaling initiatives and facilitate additional SOL acquisitions.
Market reaction proved positive with Upexi’s stock price rising 7.8% to $5.39 following the announcement. This development coincides with Solana’s price surge to $164.29, its highest valuation in a month amid broader cryptocurrency market momentum.