Key Takeaways
- Upexi, a digital asset treasury agency centered on Solana, is growing its SOL holdings by 12% by means of a $36 million deal with Hivemind Capital Companions.
- The transaction entails a convertible observe for locked SOL tokens, slated for completion by January 14.
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Solana-focused treasury agency Upexi has entered right into a securities buy settlement with Hivemind Capital Companions to challenge a $36 million convertible observe backed by locked Solana tokens.
Upon closing, the transaction is predicted to enhance Upexi’s Solana treasury to greater than 2.4 million SOL, which might make the corporate the second-largest company holder of SOL, trailing solely Ahead Industries with 6.9 million models.
“Upexi elevated adjusted SOL per share by 34% in 2025, and finishing a transaction above each market and fully-loaded NAV is a superb begin to constructing SOL per share in 2026,” mentioned Allan Marshall, CEO of Upexi.
In accordance to Marshall, the transaction will improve Upexi’s market place within the Solana treasury area and have restricted credit score danger given its in-kind nature.
Matt Zhang, Founder and Managing Associate of Hivemind, expressed confidence within the partnership.
“We consider in Upexi’s differentiated technique, capital markets experience, and demonstrated potential to create long-term worth by means of disciplined execution,” Zhang acknowledged.
Zhang famous that the transaction aligns with Hivemind’s conviction in Solana as a core digital asset and in Upexi as a number one public-market car to acquire publicity to it.
