Upexi (UPXI), a Nasdaq-listed crypto treasury company focused on Solana filed to raise up to $1 billion in pre-registration with the U.S. Securities and Exchange Commission (SEC),
The move gives the company the flexibility to raise capital by selling common stock, preferred stock, debt securities, warrants or units in one or more offerings over time.
Headquartered in Tampa, Florida, Upexi manages a number of consumer brands, including Cure Mushrooms medical products and Lucky Tail pet care. It also manages the fourth largest SOL treasury of any public company, with over 2 million tokens ($248 million) on its balance sheet.
Proceeds from the sale of securities, if any, may be used for working capital, research and development, acquisitions and debt repayment, among other general purposes.
The company’s shares fell nearly 7% Tuesday to $1.85. Since the start of the year, UPXI has lost around 50% of its value, while SOL has fallen 34%.
