Upexi Raises $100 Million To Expand Crypto Ventures, Stock Soars

Upexi Inc.’s UPXI stock skyrocketed on Monday after the company announced it had raised approximately $100 million through securities purchase agreements with a group of investors.

The deal involves the sale of 43,859,649 shares of common stock, or pre-funded warrants instead of shares, priced at $2.28 per share.

The company plans to allocate the funds for working capital and debt reduction and establish its Solana treasury operations to expand into the cryptocurrency space.

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The funding round saw backing from major crypto firms like Big Brain, Anagram, and Delphi Ventures and individual investors such as Austin Federa and Frank Chaparro. GSR led the investment, reinforcing support from key digital asset players.

The offering is set to close around April 24, subject to standard conditions. Funds will support Upexi’s expansion into crypto, including building a Solana treasury. About $5.3 million will be used for working capital and debt reduction.

This move aligns with Upexi’s diversification strategy, which also includes consumer product development. The private placement is being conducted under an exemption from registration requirements.

In March, Upexi’s subsidiary, Quantum Hash, agreed to acquire a 2MW facility. It plans to upgrade equipment and increase mining capacity. The goal is to expand to 10-20 MW by 2025, boosting the company’s cryptocurrency portfolio and revenue potential.

Price Action: UPXI shares are trading higher by over 649% at $17.02 at last check on Monday.    

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