Overview
- Upexi is selling 3,289,474 common shares with an equal number of warrants as units priced at $3.04, with warrants exercisable at $4.00 for 48 months.
- The company expects an initial closing around December 1 and plans to file an SEC resale registration within five days of closing.
- Management said the pricing sits above its Nasdaq at-the-market level and represents roughly a 1.3x premium to its modified net asset value.
- Proceeds are earmarked to grow Upexi’s Solana holdings and support operations, including its internally managed Solana yield strategy.
- Shares fell about 8.9% following the announcement, and Upexi’s existing exposure includes a reported holding of more than 2 million SOL, according to SolanaFloor.