Upexi Inc (NASDAQ:UPXI) saw its stock jump 5.1% in pre-market trading after revealing a new equity line deal with A.G.P./Alliance Global Partners (NYSE:GLP). This agreement allows Upexi to sell up to $500 million of its common shares at its own discretion.
With no commitment fees involved, the pact offers Upexi greater flexibility to raise funds and expand its holdings in the Solana cryptocurrency. Proceeds from any stock sales under the equity line will support general corporate activities and advance the company’s Solana treasury strategy.
“The equity line gives Upexi additional means and flexibility to raise capital and increase its Solana position,” said Allan Marshall, Upexi’s CEO. “The equity line was negotiated with zero fees and particularly friendly terms, and represents an attractive cost of capital.”
Upexi emphasized that it now has several options to secure capital in a cost-effective, accretive way to grow its Solana treasury. A.G.P./Alliance Global Partners serves as the exclusive sales agent for this equity line.
Known for developing, manufacturing, and distributing consumer goods, Upexi has recently diversified into cryptocurrency, focusing on Solana as a key component of its treasury approach.
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