What to know : Upexi, a crypto treasury firm focused on solana (SOL), filed a $1 billion shelf registration with the SEC to raise capital through various securities offerings. The company manages a number of consumer brands and holds some 2 million SOL tokens, making it the fourth-largest SOL treasury of any public company. The proceeds from potential securities sales could be used for purposes, including working capital, research and development and debt repayment, and come after the company's shares have lost over 50% of their value this year.
Upexi (UPXI), a Nasdaq-listed crypto treasury firm focused on solana , filed to raise as much as $1 billion in a shelf 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 shares, debt instruments, warrants or units in one or more offerings over time.
Based in Tampa, Florida, Upexi manages a number of 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 more than 2 million tokens ($248 million) on its balance sheet.
Proceeds from the securities sales, if and when executed, could be used for working capital, research and development, acquisitions and debt repayment, among other general purposes.
The company’s shares fell almost 7% on Tuesday to $1.85. Year-to-date, UPXI has lost about 50% of its value, while SOL dropped by 34%.
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