12-7-2025 – Upexi, Inc. (NASDAQ: UPXI) announced a $200 million financing deal to expand its Solana (SOL) holdings, positioning the company as a major corporate player in cryptocurrency. The package includes a $150 million convertible note backed by Solana, led by Big Brain Holdings, and a $50 million private equity placement, first reported by Upexi’s official X account.
The deal significantly boosts Upexi’s Solana treasury, aiming to hold approximately 1.65 million SOL, valued at around $270 million at current prices. CEO Allan Marshall participated in the equity offering at a premium, signaling strong confidence in the company’s crypto-focused strategy. The convertible notes, carrying a 2% quarterly interest rate and a $4.25 per share conversion price, mature in 24 months and are collateralized by locked Solana tokens. This structure allows Upexi to accumulate Solana without direct market purchases, a move analysts view as innovative for corporate treasury management.
The financing reflects growing institutional trust in Solana’s blockchain, known for its high throughput and low costs. Upexi’s stock surged as much as 335% to $9.89 following the announcement, indicating strong market approval. The company’s strategy aligns with a broader trend of Nasdaq-listed firms diversifying into digital assets, potentially influencing Solana’s market liquidity and corporate adoption of crypto-backed financing.
