TechFlow, July 11 — Upexi, Inc. (Nasdaq: UPXI) announced the completion of two financings totaling $200 million. The company raised approximately $50 million through a private placement of common stock at $4.00 per share and issued $150 million in convertible notes with a 2% annual interest rate, maturing in 24 months, and a conversion price of $4.25 per share. This financing will significantly increase Upexi's holdings in Solana (SOL), with the company expected to hold approximately 1.65 million SOL following the transactions—more than double its previously disclosed holdings of 735,000 SOL. Proceeds from the stock issuance will be partially used for existing business operations and general corporate purposes, while the remainder will support the Solana treasury strategy. The company plans to continue accumulating SOL in the coming weeks.
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