Upexi announces pricing of $36M private placement of convertible notes

Upexi (UPXI) announced that it has entered into a securities purchase agreement with Hivemind Capital Partners for the purchase of a Convertible Note in exchange for locked Solana with an aggregate original principal amount of approximately $36M The Note is collateralized by the SOL used as consideration to purchase the Note. It has an interest rate of 1.0% payable on a quarterly basis, a fixed conversion price of $2.39 per share. The closing of the Note offering is expected to occur on or about January 14, 2026, subject to the satisfaction of customary closing conditions. The SOL underlying the Note will become part of the Company’s Solana treasury upon closing, at which point the Company expects to have over 2.4 million SOL in its treasury. The securities were sold in a private placement directly to the institutional investor, and no placement agent or underwriter was engaged in connection with the offering.