Bullish 🔥 Upexi to Raise $200M to Boost Solana Treasury to 1.65M $SOL


Consumer products firm Upexi is raising $200 million through a combined stock and convertible notes offering to grow its #Solana holdings. The capital will more than double its treasury from 735,692 SOL to 1.65 million $SOL, worth about $273 million at current prices.


The deal includes $50 million from a stock sale to institutional investors, including CEO Allan Marshall, closing around July 14. The remaining $150 million will come from a securities agreement backed by Big Brain Holdings, expected to close by July 16.


Upexi’s SOL accumulation began in April after a $100 million PIPE deal led by GSR. It now plans to tokenize its public equity via Superstate’s Open Bell platform. Solana trades at $166, with a 5.7% daily gain and $15.1B in volume.


This aggressive treasury expansion by Upexi is one of the key forces pushing Solana toward the $300 mark soon.


📈 Solana just broke above a major descending trendline. Price now targets $295.83 with rising volume confirming momentum.


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#solana #upexi #crypto #treasury

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July 11, 2025 at 4:15 PM
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