Upexi (UPXI), a Nasdaq-listed cryptocurrency funding company focused on Solana Filed with the U.S. Securities and Exchange Commission (SEC) to set aside registration to raise up to $1 billion,
The move gives the company the flexibility to raise capital through the sale of common stock, preferred stock, debt instruments, warrants or one or more issued units over time.
Headquartered in Tampa, Florida, Upexi manages multiple consumer brands, including Cure Mushrooms pharmaceutical products and Lucky Tail pet care. It also manages the fourth largest SOL vault among public companies, with over 2 million tokens ($248 million) on its balance sheet.
Proceeds from the sale of securities, once executed, may be used for general purposes such as working capital, research and development, acquisitions and debt repayment.
The company’s shares fell nearly 7% to $1.85 on Tuesday. UPXI has lost about 50% of its value so far this year, while SOL has lost 34%.