Shares of Upexi, Inc. (NASDAQ:UPXI) climbed 13% on Thursday after the company finalized a $150 million private placement of convertible notes, part of a broader $200 million financing strategy previously outlined by the firm.
The notes, which convert at a fixed price of $4.25 per share and mature in 24 months, offer a 2.0% quarterly interest rate and are backed by Solana (SOL) tokens provided by investors. Both locked and spot SOL assets were accepted in exchange for the debt.
This latest round includes the $150 million in convertible notes and builds on an earlier $50 million private placement in common stock, bringing the combined gross proceeds to roughly $200 million before placement fees and other costs.
Leading the investment was Big Brain Holdings, joined by a group of institutional backers. A.G.P./Alliance Global Partners (NYSE:GLP) acted as the sole placement agent for the transaction.
The influx of crypto-backed capital significantly boosts Upexi’s digital asset holdings. The company now owns approximately 1.65 million SOL, more than double the 735,692 SOL previously reported.
Upexi, a company focused on consumer product development and distribution, has recently begun expanding into the crypto market, with this deal marking a major step in its evolving treasury strategy.
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