Solana treasury Upexi slides 7.5% on $1B shelf registration filing
Upexi shares dropped 7.5% after filing a $1 billion shelf registration to expand its Solana treasury holdings.Summary
Shares in Upexi (UPXI) fell 7.5% on Tuesday, closing at $1.84, following the announcement of a $1 billion shelf registration filing with the SEC. This filing suggests the company intends to raise capital to expand its Solana treasury and pursue other related opportunities, potentially resuming Solana purchases after a five-month hiatus. Upexi, which pivoted to a Solana treasury focus in late April, currently holds 2.1 million SOL valued at $262.3 million, making it the fourth-largest corporate holder. The company is operating at a 19% paper loss on its holdings, which have declined significantly from a peak value of around $525 million in mid-September. Despite the initial drop, Upexi shares saw a small recovery in after-hours trading.
(Source：Cointelegraph)