Upexi announces $23 million private placement plan

Mars Finance reports that Upexi, Inc. (NASDAQ: UPXI) has announced a securities purchase agreement with a single institutional investor to issue approximately 3.29 million ordinary shares and an equal number of warrants at a price of $3.04 per share, with an exercise price of $4 per share and a validity period of 48 months. This private placement price is higher than the market price under Nasdaq market rules. The company expects to initially raise approximately $100 million, with an additional $130 million if all warrants are exercised. The transaction is expected to close on December 1st, and the proceeds will be used for working capital, general corporate purposes, and the Solana maximum return strategy. As a digital asset company focused on Solana, Upexi currently holds over 2 million SOL and creates value through three mechanisms: smart capital issuance, staking, and discounted locked token purchases.