Nasdaq Listed Company Burns Ships: They Will Purchase Almost 1 Million Units of This Altcoin!

Upexi, a consumer product and crypto currency focused brand company trading on Nasdaq, announced that it has successfully completed a total of $200 million in a private financing round. The financing round included stock issuance and Convertible Bond sales, with a significant portion of the investments made in Solana (SOL).

According to the press release made by the company, this funding consists of two parts:

• $50 million stock issuance: In this section, attended by the company's CEO Allan Marshall, 12,457,186 shares were sold at $4.00 each and for management at $4.94. A portion of the proceeds will be used to finance existing business operations and as general working capital. The remainder will be directly allocated to Upexi's strategy to grow its Solana treasury.
• Sale of 150 million dollars worth of Convertible Bonds: In this section, the bonds were issued in exchange for locked and spot SOL. In this bond issuance, which was participated by institutional investors including Big Brain Holdings, the interest rate was set at 2%, while the conversion price of the bonds was fixed at 4.25 dollars per share. Their maturities are 24 months.

The company announced that it would increase its Solana reserves to approximately 1.65 million SOL with these bond agreements, thus surpassing more than double the previously announced asset of 735,692 SOL.

The issuance of the Convertible Bond is expected to be completed on July 16, 2025, while the issuance of shares is expected to be completed on July 14, 2025. Further SOL purchases are planned in the coming weeks with the net proceeds.