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Upexi, Inc. Closes $200 Million Convertible Note Offering

Strategic Insights

— 1 min read

Upexi, a brand owner specializing in consumer products, has announced the closing of a $200 million convertible note offering, in addition to a previously disclosed $50 million private placement of common stock. The new funding will support the company's growth in the cryptocurrency space, where it has entered through a cryptocurrency portfolio. The offering was led by Big Brain Holdings and included other institutional investors, with the placement agent A.G.P./Alliance Global Partners acting as sole placement agent.

Key Takeaways:

  • The convertible note offering raised approximately $150 million, while the private placement of common stock raised $50 million, resulting in a total of $200 million in gross proceeds for the company.
  • The convertible notes are collateralized by Solana (SOL) tokens provided by the respective holders, with an interest rate of 2.0% payable quarterly.
  • The fixed conversion price for the convertible notes is $4.25 per share, and the maturity period is 24 months.
  • The company has approximately 1.65 million SOL tokens following the closing of the note offering, more than doubling its previously disclosed balance of 735,692 SOL.
  • The company has entered the cryptocurrency industry with a focus on cash management of assets through a cryptocurrency portfolio.
  • The $200 million in gross proceeds will support the company's growth in the consumer products and cryptocurrency spaces.

Statistics:

  • $150 million: Aggregate original principal amount of the convertible note offering
  • $50 million: Amount raised in the private placement of common stock
  • 2.0%: Interest rate payable on the convertible notes quarterly
  • $4.25: Fixed conversion price for the convertible notes
  • 24 months: Maturity period of the convertible notes
  • 1.65 million: Total SOL tokens held by the company after the closing of the note offering
  • 735,692: Previously disclosed SOL balance
  • Approximately 100%: Increase in the company's SOL token balance following the note offering

Sources:

  • GlobeNewswire, "Upexi, Inc. Closes $200 Million Convertible Note Offering and Private Placement of Common Stock" dated July 17, 2025.

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