TechFlow news, December 24 — According to CoinDesk, Upexi (UPXI), a publicly traded SOL treasury company listed on U.S. stock market, has filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC). The company plans to raise up to $1 billion through the issuance of common stock, preferred stock, debt instruments, warrants, or other securities.
Upexi currently holds approximately 2 million SOL tokens (worth about $248 million), making it the fourth-largest publicly traded company holding Solana assets. The company stated that proceeds from the fundraising will be used for general corporate purposes, including working capital, research and development, acquisitions, and debt repayment.
Notably, Upexi's stock price dropped around 7% on Tuesday to $1.85, representing a year-to-date decline of approximately 50%, while SOL’s price fell 34% during the same period. In addition to cryptocurrency assets, the company also manages multiple consumer brands, including Cure Mushrooms medicinal products and Lucky Tail pet care products.
