Upexi, Inc. Announces Pricing of $200 Million Concurrent Private Placement of Common Stock and Convertible Notes both Priced above the At-the-Market Price under Nasdaq Rules

Core Viewpoint - Upexi, Inc. has announced two significant capital-raising initiatives: an Equity Offering and a Note Offering, aimed at funding its business operations and expanding its cryptocurrency portfolio, particularly in Solana assets [1][3][6]. Equity Offering - The company has entered into securities purchase agreements for the sale of 12,457,186 shares of common stock at a price of $4.00 per share, generating approximately $50 million in gross proceeds before expenses [1][2]. - The closing of the Equity Offering is expected around July 14, 2025, pending customary closing conditions [2][5]. - Proceeds from the Equity Offering will be used for business operations, working capital, and to support the company's Solana treasury strategy [2][6]. Note Offering - Concurrently, Upexi has entered into agreements for the purchase of Convertible Notes with an aggregate principal amount of approximately $150 million, collateralized by Solana (SOL) [3][4]. - The Convertible Notes carry a 2.0% interest rate, payable quarterly, with a fixed conversion price of $4.25 per share and a maturity of 24 months [4][5]. - The closing of the Note Offering is anticipated around July 16, 2025, also subject to customary closing conditions [5]. Cryptocurrency Strategy - Upon closing the Note Offering, the company expects to hold approximately 1.65 million SOL, more than doubling its previously disclosed balance of 735,692 SOL [6]. - The net proceeds from the Equity Offering will be allocated to acquiring additional SOL in the coming weeks [6]. Company Overview - Upexi, Inc. specializes in the development, manufacturing, and distribution of consumer products and has diversified into the cryptocurrency sector [9].