Upexi, a consumer goods brand expanding into the crypto sector, announced the two ongoing private offerings targeting $200 million. The firm plans to use the funds to finance its Solana (SOL) accumulation strategy.
Today we announced a blockbuster deal with a $150m in kind convertible note led by @BigBrainVC and a $50m equity private placement.
Net proceeds will be used to buy more SOL. pic.twitter.com/TwyLgvo4nK
— Upexi (@UpexiTreasury) July 11, 2025
Upexi’s $200M Capital Raise
According to a recent press release, Upexi secured $50 million through an equity placement, with the round expected to close by July 14, 2025. Concurrently, the firm issued $150 million in SOL-collateralized convertible notes, set at a conversion price of $4.25 per share. The note offering backed by major institutional investors is anticipated to close around July 16, 2025.
Once both transactions are finalized, Upexi intends to increase its Solana holdings to approximately 1.65 million SOL, which is more than twice its holdings as of June 30. With the fresh equity funds and the incoming SOL collateral from the convertible notes, Upexi plans to press ahead with its strategy to acquire, hold, and stake Solana coins.
Upexi believes its anticipated Solana portfolio will position the firm as a pioneering publicly-traded Solana treasury entity. Notably, the initiative follows its earlier accumulation of over $100 million in SOL. The move hints at the company’s commitment to building yield-generating crypto asset reserves alongside its traditional business operations.
Interestingly, the dual-financing strategy aligns with Upexi’s goal of integrating blockchain-forward initiatives into its capital structure. The SOL collateral from the notes will immediately bolster its token balance, enabling continued staking and yield generation. Acting as the sole placement agent for both offerings is A.G.P./Alliance Global Partners.
Solana Attracts Institutions
BIT Mining has launched an initiative that highlights institutional interest in Solana. The company pivoted toward the Solana ecosystem, with plans to raise up to $300 million via multiple funding phases to build a SOL treasury. It plans to convert existing crypto holdings to SOL and operate Solana validator nodes to support the network while earning rewards.
Following suit in the institutional embrace of Solana is DeFi Development Corp. The firm has become the first public company to integrate its Solana treasury with native DeFi protocols. The Florida-based firm has amassed 690,420 SOL and secured validator partnerships, such as with the Bonk memecoin community. It is executing an approach to compound the SOL value per share.
