Nasdaq-Listed Company Overhyped: They’re About to Buy Nearly 1 Million Units of This Altcoin

Upexi, a Nasdaq-listed consumer goods and cryptocurrency-focused brand, announced the successful completion of a $200 million private financing round. The round included a stock issuance and convertible bond sales, with a significant portion of the investments denominated in Solana (SOL). According to the company’s press release, this funding consists of two parts: $50 million stock offering: Attended by CEO Allan Marshall, 12,457,186 shares were sold at $4.00 per share ($4.94 for management). A portion of the proceeds will be used to finance current business operations and general working capital. The remainder will be directly invested in Upexi’s strategy to grow the Solana treasury. $150 million convertible bond sale: In this unit, the bonds were issued in exchange for locked-in, spot SOL. Institutional investors, including Big Brain Holdings, participated in this bond issue. The interest rate was set at 2%, and the conversion price was fixed at $4.25 per share. The maturity date is 24 months. Related News: Watch Out: Grayscale Announces the Possible Addition of 29 New Altcoins to its Investment Products – There Are Big Surprises, Here’s the List The company reported that these bond agreements will increase Solana reserves to approximately SOL 1.65 million, more than doubling the previously announced holdings of SOL 735,692. The convertible bond issuance is expected to close on July 16, 2025, and the equity issuance is expected to close on July 14, 2025. Further SOL acquisitions are planned in the coming weeks with the net proceeds. *This is not investment advice. Continue Reading: Nasdaq-Listed Company Overhyped: They’re About to Buy Nearly 1 Million Units of This Altcoin

Source: BitcoinSistemi