Upexi Secures $100 Million for Solana Investment
Deal News | Apr 21, 2025 | White Star Capital
Upexi Inc. has announced it is raising $100 million as part of a strategy pivot to begin accumulating Solana cryptocurrency. Following the announcement, Upexi's shares experienced a remarkable increase of over 300% during early trading. Previously, Upexi's market capitalization stood at $3 million at the end of last week's trading. The company has entered into agreements with investors for a private placement of approximately 43.9 million shares of its common stock or pre-funded warrants at $2.28 per share. The offering is set to close on April 24.
Sectors
- Cryptocurrency
- Financial Services
Geography
- United States – Upexi Inc., being a U.S.-based company, influences the financial dynamics primarily within the United States.
Industry
- Cryptocurrency – Upexi's pivot towards acquiring Solana tokens represents a significant move into the cryptocurrency sector.
- Financial Services – The private placement of shares for funding aligns with activities in the financial services and capital markets sector.
Financials
- $100 million – The amount Upexi is raising to buy Solana cryptocurrency.
- $2.28 per share – The price of Upexi's common stock or pre-funded warrants in the private placement.
- 43.9 million shares – The number of shares involved in Upexi's private placement.
- 300% – The percentage increase in Upexi's share price following the announcement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Upexi Inc. | Target | Company | Upexi Inc. is a U.S.-based company raising funds to invest in cryptocurrency. |
| White Star Capital | PE Firm | Company | White Star Capital is a private equity backer involved in Upexi's strategic pivot. |