Upexi plans to raise $23 million through a private placement to strengthen its SOL treasury strategy.

PANews, November 26 - According to The Block, Nasdaq-listed company Upexi (UPXI) announced a targeted issuance of up to $23 million in stocks and warrants to support its core Solana treasury strategy. The issuance price is $3.04 per share including warrants, with initial financing of $10 million, and if all warrants are exercised, an additional $13 million will be raised. Despite a recent market pullback causing its holdings of SOL to lose over $200 million in market capitalization, Upexi remains committed to a long-term holding strategy and will use the raised funds for general operations and further accumulation of SOL.