Upexi announced the completion of a $200 million private sale, which will further increase its holdings in SOL.

Foresight News reports that Upexi, a publicly listed company on the US stock market (NASDAQ: UPXI), has announced the completion of a $200 million parallel private sale financing, covering both common stock and convertible notes, both priced above market value. Upexi CEO Allan Marshall also participated in this round of financing, with the common stock issuance price set at $4 per share, while he subscribed at $4.94 per share. The common stock financing raised approximately $50 million, expected to deliver on July 14, with part of the funds allocated for the company's existing business and the remainder for expanding Solana asset allocation. Additionally, Upexi will issue convertible notes totaling $150 million, with an interest rate of 2% per annum, a fixed conversion price of $4.25 per share, and a term of two years. The notes will be collateralized by SOL provided by investors, and will become part of the company's Solana reserves after delivery. This note financing is led by Big Brain Holdings, expected to deliver on July 16. Upon completion of the financing, Upexi's Solana reserves will increase to approximately 1.65 million coins, doubling from the previously disclosed 735,692 coins. The company plans to continue using the proceeds from this equity financing to further increase its SOL holdings in the coming weeks. This round of financing is exclusively managed by A.G.P./Alliance Global Partners. Upexi has previously ventured into the crypto assets field and is publicly promoting its Solana-related asset allocation strategy.