Upexi (UPXI), a Nasdaq-listed crypto-tax company focused on solana filed to raise as much as $1 billion in a shelf filing with the US Securities and Exchange Commission (SEC),
The move gives the company the flexibility to raise capital by selling common stock, preferred stock, debt instruments, warrants or shares in one or more offerings over time.
Based in Tampa, Florida, Upexi manages a number of consumer brands, including Cure Mushrooms medical 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.
The proceeds from the sale of securities, if and when executed, may be used for, among other things, working capital, research and development, acquisitions and repayment of debt.
The company’s shares fell nearly 7% Tuesday to $1.85. Year to date, UPXI has lost about 50% of its value, while SOL is down 34%.
