Upexi (UPXI), a Nasdaq-listed crypto treasury firm focused on solana filed to raise up to $1 billion in a shelf registration with the US Securities and Exchange Commission (SEC),
The move provides the company the flexibility to raise capital by selling common stock, preferred stock, debt instruments, warrants or units in one or more offerings over time.
Headquartered in Tampa, Florida, Upexi manages several consumer brands, including Cure Mushrooms medicinal 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 securities sales, when executed, could be used for working capital, research and development, acquisitions and debt repayment, among other general purposes.
The company’s shares fell nearly 7% on Tuesday to $1.85. So far this year, UPXI has lost around 50% of its value, while SOL fell 34%.
