Upexi sets a price of up to $23 million for its private placement, as Solana treasury exposure creates additional market pressure.
Upexi, a Nasdaq‑listed firm focused on Solana, is launching a private placement to raise up to $23 million. The capital raise aims to bolster its balance sheet amid a prolonged crypto market downturn. Proceeds will support the company’s long‑term Solana‑centric strategy and improve liquidity. The new securities will be registered with the SEC shortly after closing. The agreement with a single institutional investor covers 3,289,474 shares and matching warrants at a combined $3.04 per unit, above the recent market price. Each warrant has a $4 exercise price and a 48‑month life, allowing the company to receive $10 million immediately and up to $13 million if all warrants are exercised. This structure provides flexibility for future capital inflows and funds operational and portfolio needs. Upexi holds more than 2 million SOL, making it one of the largest public corporate holders, and treats the treasury as a strategic asset during volatility. Management prefers internal management of the treasury to maximize returns rather than outsource it. The stock has slid over 43 % in the past month, trading around $2.78 after a multi‑week decline, reflecting weak sentiment and reduced risk appetite.























