Key Takeaways
- Upexi, a company focused on Solana, raised $23 million in a private placement to expand its SOL holdings.
- The private placement featured common stock and warrants, priced above the at-the-market rate per Nasdaq rules.
Upexi, a Solana-focused treasury company, today raised $23 million through a private placement offering to expand its SOL token holdings. The company acquires, holds, and stakes SOL tokens to provide digital asset exposure through equity securities.
The private placement was priced above the at-the-market price under Nasdaq rules and included common stock and warrants. Upexi plans to use the net proceeds to acquire additional SOL tokens and support operations as part of its treasury strategy.
Solana serves as the foundation for Upexi’s business model, with the company generating yields by staking the blockchain’s native tokens. The network is recognized for its speed, cost-efficiency, and developer adoption in programmable capital and real-time market infrastructure.
Source: https://cryptobriefing.com/upexi-raises-23m-to-expand-solana-treasury/