Upexi, Inc. (NASDAQ: UPXI), a Solana-focused digital asset treasury company and diversified consumer brands owner, announced the successful closing of its previously announced private placement resulting in aggregate gross proceeds of approximately $10.0 million, before placement agent fees and offering expenses.
The offering consisted of 3,289,474 shares of common stock (or common stock equivalents) and warrants to purchase up to 3,289,474 shares of common stock at a combined purchase price of $3.04 per share and accompanying warrant. The warrants have an exercise price of $4.00 per share, are immediately exercisable, and will expire 48 months from the date of issuance.
Net proceeds from the offering are expected to be used for working capital, general corporate purposes, and the Company’s internally managed Solana (SOL) strategy.
A.G.P./Alliance Global Partners acted as the sole placement agent for the offering. Lucosky Brookman LLP served as counsel to Upexi, Inc. in connection with the transaction.
