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6d ago

Upexi Secures $100M Investment to Build Solana-Based Treasury

The consumer-goods company pivots to digital assets, with GSR leading the private placement as Upexi's stock surges over 700%.

Upexi, investments, cryptocurrency, Solana
solana

Overview

  • Upexi announced a $100 million private placement led by crypto trading firm GSR to accumulate and stake Solana (SOL) tokens.
  • The company is transitioning from physical product manufacturing to incorporating a Solana-based treasury model as part of its balance sheet strategy.
  • The deal, expected to close by April 24, 2025, allocates $5.3 million for working capital and debt reduction, with the remainder for Solana operations.
  • Upexi's stock price skyrocketed over 700% following the announcement, rising from $2.30 to $19.
  • GSR and Solana Foundation leaders highlighted the move as a milestone in bridging traditional finance with decentralized blockchain infrastructure.