Upexi (UPXI) said Monday it entered into securities purchase agreements to raise about $100 million by selling about 43.9 million shares at $2.28 each, sending shares up more than double in recent premarket trading.
The company said the offering, expected to close April 24, was led by GSR and included investments from top crypto venture capital firms like Big Brain, Delphi Ventures, and the family office of Arthur Hayes, along with several well-known angel investors.
Upexi said it plans to use about $5.3 million for working capital and debt reduction, while the rest will support the creation of its Solana treasury operations and the accumulation of Solana tokens.
Price: 5.75, Change: +3.46, Percent Change: +150.54
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