Upexi Secures $500M Equity Line to Expand Solana Holdings and Drive Treasury Yield
Upexi Inc. (Nasdaq: UPXI) has finalized a $500 million equity line agreement with A.G.P./Alliance Global Partners, granting the company the flexibility to issue shares on favorable terms as it continues to scale its Solana (SOL) treasury and staking initiatives.
The deal, announced July 28, provides Upexi with additional capital to fund both general corporate operations and a fast-growing SOL strategy. Notably, the agreement includes no commitment fee and was structured with what Upexi described as “friendly terms” to minimize capital costs.
“This facility offers Upexi enhanced flexibility to raise capital and deepen our Solana exposure in a cost-efficient manner,” said CEO Allan Marshall.
The capital raise follows Upexi’s July 21 acquisition of 100,000 SOL, which was financed through a $200 million private placement. The purchase lifted the company’s total SOL holdings to 1,818,809 tokens, valued at roughly $331 million at the time. More than half of the acquired tokens were locked and obtained at a discount, generating approximately $58 million in unrealized gains.
Upexi has since staked the majority of its SOL to earn yield, projecting up to $26 million annually in staking rewards at current network rates. The firm has also introduced a proprietary valuation benchmark called Basic mNAV, comparing its market cap to the USD value of its SOL treasury. As of July 18, this metric stood at 1.2x.
Solana Price Action Mixed Despite Treasury Growth
Despite the treasury expansion news, Solana (SOL) ended July 28 with modest losses, declining 0.99% to $187.35, according to CoinDesk data. The move followed a sharp intraday pullback and increased selling pressure.
Key Price Metrics (July 27–28, 16:00 UTC to 15:00 UTC):
- Daily Range: $186.38 – $194.99 (4.47% range)
- Morning Rally: Price surged from $186.42 to $194.99 by 05:00 UTC (+4.59%)
- Selloff Window: Price fell sharply from $192.82 to $187.38 between 12:00–14:00 UTC on heavy volume
- Late Rebound: SOL bounced 0.78% in the final hour, closing at $188.81
- Volume Spike: Activity peaked at 15:32 UTC with 39,417 units traded, hinting at renewed institutional interest
While short-term volatility remains, Upexi’s continued accumulation and staking activity reinforces broader institutional interest in Solana-based treasury strategies. The new capital access may further position the firm to influence market sentiment around altcoin treasury management.
