Upexi Taps $500M Equity Line to Expand Solana Treasury and Staking Exposure
Upexi Inc. (Nasdaq: UPXI) has secured a $500 million equity line of credit, boosting its financial flexibility to scale Solana (SOL) holdings and reinforce its staking strategy. The agreement, announced Monday, was arranged with A.G.P./Alliance Global Partners and allows the company to issue common shares at its discretion, without incurring commitment fees.
According to Upexi, the capital will support both general operations and the continued expansion of its SOL-based treasury strategy, which has accelerated rapidly in recent months. CEO Allan Marshall described the deal as a “cost-effective and accretive” tool that enhances the company’s ability to capitalize on digital asset opportunities.
“This facility strengthens our capital structure and increases our ability to scale our Solana position with precision,” Marshall said in the company’s release.
The equity line follows Upexi’s July 21 acquisition of 100,000 SOL, funded by a $200 million private placement, bringing total holdings to 1,818,809 SOL — valued near $331 million at the time. Over half of that total was acquired in locked form at a discount, producing an estimated $58 million in unrealized gains.
Nearly the entire SOL position is now staked, with Upexi projecting up to $26 million annually in staking rewards based on current yields. The firm has also introduced a new valuation metric, the Basic mNAV, which tracks market capitalization against the USD value of its SOL reserves. As of July 18, the metric stood at 1.2x.
Despite the bullish long-term positioning, SOL’s short-term price action showed mixed sentiment. The token fell 0.99% to $187.35 on July 28, following a sharp mid-session reversal.
Solana Price Action: Key Technical Insights (July 27–28)
- Trading Range: $186.38 to $194.99 (4.47% volatility)
- Morning Rally: SOL climbed to $194.99 by 05:00 UTC, up 4.59%
- Selloff: Declined from $192.82 to $187.38 between 12:00–14:00 UTC amid high-volume selling
- Late Rebound: Gained 0.78% to close at $188.81, breaking back above $188.50 resistance
- Volume Spike: 39,417 units traded at 15:32 UTC, signaling possible institutional buying
While price dipped on the day, late-session accumulation may reflect growing confidence in Solana-linked corporate strategies, particularly as firms like Upexi continue scaling on-chain exposure with structured capital tools.
