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Upexi Announces Pricing of $36 Million Private Placement of Convertible Note Priced Above the Market

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Transaction to Increase Solana Treasury by 12% to over 2.4 million SOL Offering is Accretive to Adju...

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AI Summary

UPXI entered a $36 million Convertible Note agreement with Hivemind Capital. The transaction increases UPXI's Solana treasury by 12% to over 2.4 million SOL. UPXI expects a 34% increase in adjusted SOL per share from 2025. The deal enhances UPXI's position in the Solana treasury market. Low credit risk due to the in-kind nature of the transaction.

Sentiment Rationale

UPXI's strategic acquisition of SOL can lead to increased stock value, similar to successful equity conversions seen in crypto-focused companies in the past.

Trading Thesis

The value creation from the increased Solana treasury is expected to unfold over time as market conditions stabilize and the crypto assets appreciate.

Market-Moving

  • UPXI entered a $36 million Convertible Note agreement with Hivemind Capital.
  • The transaction increases UPXI's Solana treasury by 12% to over 2.4 million SOL.
  • UPXI expects a 34% increase in adjusted SOL per share from 2025.

Key Facts

  • UPXI entered a $36 million Convertible Note agreement with Hivemind Capital.
  • The transaction increases UPXI's Solana treasury by 12% to over 2.4 million SOL.
  • UPXI expects a 34% increase in adjusted SOL per share from 2025.
  • The deal enhances UPXI's position in the Solana treasury market.
  • Low credit risk due to the in-kind nature of the transaction.

Companies Mentioned

  • SOL (SOL)
  • BTC (BTC)
  • ETH (ETH)

Corporate Developments

The article discusses a significant financial move that positions UPXI competitively in the digital asset space, likely affecting investor perception positively.

Upexi (UPXI) Secures $36 Million Private Placement to Enhance Solana Treasury

TAMPA, Fla., January 13, 2026 — Upexi, Inc. (NASDAQ: UPXI), a prominent digital asset treasury company focused on Solana, has announced a significant financial agreement. The company will enter a securities purchase agreement with Hivemind Capital Partners to acquire a Convertible Note valued at approximately $36 million. The transaction aims to expand Upexi's Solana treasury, projected to exceed 2.4 million SOL once completed.

Details of the Convertible Note Offering

The Convertible Note is collateralized by the Solana used in the transaction and carries an interest rate of 1.0%, payable quarterly. The fixed conversion price is set at $2.39 per share, a significant increase over Friday's closing price of $2.12. The maturity period for this note is set at 24 months.

The closing of the offering is anticipated to take place on or around January 14, 2026, pending the fulfillment of standard closing conditions. Once finalized, this acquisition will augment Upexi's Solana treasury by approximately 12%.

Strategic Importance of the Transaction

According to CEO Allan Marshall, “Upexi increased adjusted SOL per share by 34% in 2025, and completing a transaction above both market and fully-loaded NAV is a great start to building SOL per share in 2026.” He emphasized that the transaction not only enhances Upexi’s positioning within the Solana treasury market but also minimizes credit risk due to the in-kind nature of the deal.

Matt Zhang, Founder and Managing Partner of Hivemind, expressed confidence in Upexi’s strategic direction and ability to generate long-term value: "This transaction aligns with our conviction in Solana as a core digital asset and in Upexi as a leading public-market vehicle to gain exposure to it." His remarks highlight the growing partnership between Hivemind and Upexi.

Market Context and Investor Considerations

The securities involved in this private placement will not be registered under the Securities Act of 1933 and cannot be sold in the U.S. unless registered or exempt from such requirements. As a result, this offering focuses on private investment without public solicitation.

Upexi, Inc. aims to strategically enhance its position in the digital asset space by acquiring and holding significant amounts of Solana (SOL). With a disciplined approach to capital issuance and investments, Upexi seeks to appeal to a diverse range of investors while managing risks effectively.

About Upexi, Inc.

Upexi, Inc. (NASDAQ: UPXI) operates primarily as a digital asset treasury company dedicated to acquiring Solana. Their strategy involves utilizing intelligent capital issuance, staking, and discounted locked token purchases to maximize value. In addition to its digital asset operations, Upexi is also engaged in the development and distribution of consumer products. Currently, the company holds over two million SOL.

For more information, please visit www.upexi.com.

Forward-Looking Statements

This announcement contains forward-looking statements about Upexi’s financial strategies and operations. Actual results may differ due to numerous factors, including market conditions and operational challenges. Investors are encouraged to review risk factors detailed in Upexi's required reports to the Securities and Exchange Commission.

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