Upexi prices $19.5M private placement to reduce existing debt

Upexi, Inc. (NASDAQ: UPXI) has entered into a securities purchase agreement with an existing accredited investor for a private placement of approximately 12,242,300 shares of common stock, or pre-funded warrants in lieu thereof, priced at approximately $1.60 per share.

The transaction, valued at approximately $19.5 million before legal and other offering fees, will be settled through the reduction of existing debt rather than cash proceeds. No placement agent was used in connection with the offering.

The securities are being offered under an exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933 and/or Regulation D, meaning the shares may not be offered or sold in the United States without an effective registration statement or an applicable exemption from registration requirements.

Upexi, based in Tampa, Fla., describes itself as a Solana-focused digital asset treasury company and consumer brands owner. The company states it currently holds approximately 2.4 million SOL tokens.

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