Solana treasury-focused Upexi files for up to $1 billion capital raise

Upexi (UPXI), a Nasdaq-listed crypto treasury agency targeted on solana SOL$122.38, filed to raise as much as $1 billion in a shelf registration with the U.S. Securities and Alternate Fee (SEC),

The transfer offers the corporate the pliability to raise capital by promoting frequent inventory, most popular shares, debt devices, warrants or models in a number of choices over time.

Based mostly in Tampa, Florida, Upexi manages plenty of client manufacturers together with Treatment Mushrooms medicinal merchandise and Fortunate Tail pet care. It additionally manages the fourth-largest SOL treasury of any public firm, with greater than 2 million tokens ($248 million) on its stability sheet.

Proceeds from the securities gross sales, if and when executed, may very well be used for working capital, analysis and improvement, acquisitions and debt reimbursement, amongst different basic functions.

The corporate’s shares fell virtually 7% on Tuesday to $1.85. Yr-to-date, UPXI has misplaced about 50% of its worth, whereas SOL dropped by 34%.