Solana treasury-focused Upexi files for up to $1 billion capital raise

Upexi (UPXI), a Nasdaq-listed firm based in Tampa, Florida, that focuses on managing a crypto treasury centered around Solana (SOL) and consumer brands, has filed a shelf registration with the U.S. Securities and Exchange Commission (SEC) to raise as much as $1 billion. This registration provides Upexi the flexibility to sell common stock, preferred shares, debt instruments, warrants, or units over time. Upexi currently manages the fourth-largest SOL treasury among public companies, holding over 2 million SOL tokens. Proceeds from any future sales could be used for working capital, R&D, acquisitions, and debt repayment. Despite these plans, Upexi's shares fell nearly 7% on Tuesday, contributing to a 50% year-to-date loss for the stock, while SOL dropped 34% in the same period.

(Source：CoinDesk)