Upexi is making an aggressive push into Solana. The Nasdaq-listed firm has successfully closed a $200 million funding initiative aimed at expanding its digital asset treasury—specifically SOL—cementing its role as a crypto-forward brand.
The fresh capital came through a dual-track strategy: equity and crypto-backed bonds. On the equity side, CEO Allan Marshall and others acquired over 12 million shares at a $4.00 offering price.
The company clarified that part of these funds will support daily operations, but a significant chunk is being redirected into Solana accumulation.
The more notable piece, however, came in the form of a $150 million convertible bond sale—backed by locked-in Solana holdings.
The bonds carry a 2% interest rate and can convert into equity at $4.25 per share. Prominent institutional players, including Big Brain Holdings, joined the round. The bond is set to mature in two years.
These moves will push Upexi’s total Solana stash to around 1.65 million SOL, more than doubling its previous holdings. The company is aiming to finalize the equity portion by July 14 and the bond tranche by July 16.
With additional SOL purchases on the horizon, Upexi’s treasury strategy echoes a broader trend among
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/firm-secures-funding-to-build-273m-solana-reserve/