Solana Treasury Firm Upexi Raises $200 Million to Boost SOL Stash

Consumer Products Company Upexi strengthens its Solana Treasury and collects $ 200 million to finance business activities, as well as further SOL purchases, announced on Friday.

The funds will come from two separate financing vehicles, with $ 50 million in net revenue that is expected through a supply offer and $ 150 million from the sale of convertible banknotes. Each offer is expected to close next week.

“Today we announced a blockbuster deal with a $ 150 million in friendly convertible note led by Big Brain Holdings and a private placement of $ 50 million,” the company Posted on X. “Net proceeds will be used to buy more sol.”

The range of $ 150 million convertible notes will be collapsed via locked, spot-sol provided by the buyers of the convertible banknotes, who have a duration of 2 years and 2% interest rate, to be paid every quarterly.

After completion of the notebook, the SOL will become part of the Solana Treasury of Upexi.

The company first announced its intentions to build a digital assets treasure that was focused on Solana in April, in April, Pick up $ 100 million in financing To feed his first purchase. That increase sent from Upxi, which acts on the Nasdaq, an increase of more than 300% in a single day of trade.

With the last additives, it expects around 1.65 million SOL in its treasury, or around $ 270 million at the top 10 crypto assets. At 1.65 million Sol, Upexi would keep the amount of Solana almost twice if the other prominent, listed Solana Treasury, Defi Development Corporation (DFDV).

Shares of Upxi did not respond as violently as the news of the first increase, by 7.8% in the day to $ 5.39, from the end of Friday.

In the past month, UPXI has fallen almost 58% after the first peak, which eventually reached a peak at $ 22.57, according to data from Google Finance. Nevertheless, shares have risen almost 53% to date.

Solana has risen by 3% for the past 24 hours and acts at $ 164.29. Sol reached the highest price in a month earlier when Bitcoin picked up a all time of all time.