As reported by Biji.com, Upexi (UPXI), a Nasdaq-listed digital asset management company with core holdings in Solana (SOL), has completed a private placement of common shares and warrants for up to $23 million. The transaction includes a $10 million upfront payment and an additional $13 million if all warrants are exercised. The offering price of $3.04 per share, including warrants, is above the company's market price under Nasdaq rules. The warrants, exercisable at $4.00 per share, are valid for four years. Funds will be used for general corporate purposes, working capital, and growth in Solana holdings. Amid broader crypto market volatility, the value of Upexi’s Solana holdings has declined by over $200 million since peaking in September, and UPXI’s stock has dropped nearly 40% in the past month. Despite this, the company plans to continue its Solana-focused strategy and has launched a share buyback program.
Upexi Completes $23M Private Placement Amid Solana Market Volatility
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