In brief
- Solana treasury firm Upexi is raising another $200 million to bolster its SOL treasury.
- Upon completion, the firm will have more than 1.6 million SOL valued at around $270 million.
- Shares of UPXI finished Friday up nearly 8%.
Consumer products company Upexi is bolstering its Solana treasury, raising $200 million to fund business operations as well as further SOL purchases, it announced on Friday.
The funds will come from two separate financing vehicles, with $50 million in net proceeds expected via an equity offering and $150 million from the sale of convertible notes. Each offering is expected to close next week.
“Today, we announced a blockbuster deal with a $150 million in kind convertible note led by Big Brain Holdings and a $50 million equity private placement,” the firm posted on X. “Net proceeds will be used to buy more SOL.”
The $150 mil
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Author: Logan Hitchcock
