Upexi Announces Closing of Approximately $150 Million Private Placement of Convertible Notes as Part of Previously Announced $200 Million Concurrent Offering

Core Viewpoint - Upexi, Inc. has successfully closed a private placement convertible note offering, raising approximately $150 million, alongside a previously disclosed $50 million equity offering, resulting in total gross proceeds of around $200 million before expenses [1][2]. Group 1: Note Offering Details - The convertible notes have an interest rate of 2.0% payable quarterly, a fixed conversion price of $4.25 per share, and a maturity period of 24 months [2]. - The notes are collateralized by Solana (SOL) provided by the holders, and the SOL acquired will be part of the Company's treasury [2][3]. - Big Brain Holdings acted as the lead investor in the note offering, contributing to the increase of the Company's SOL holdings from approximately 735,692 to 1.65 million SOL [3]. Group 2: Financial Impact - The total gross proceeds from the note offering and the equity offering amount to approximately $200 million before deducting placement agent fees and other expenses [2]. - The Company has diversified its asset management strategy by entering the cryptocurrency space, indicating a strategic shift in its financial operations [6]. Group 3: Company Overview - Upexi, Inc. specializes in the development, manufacturing, and distribution of consumer products and has expanded into the cryptocurrency industry [6].