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Upexi has reached a financing agreement with Hivemind Capital Partners. The deal involves a $36 million convertible note issuance, collateralized with SOL as consideration.
Regarding the financing details, the note has an annual interest rate of 1.0%, paid quarterly; a fixed conversion price of $2.39 per share; and a total term of 24 months. Notably, this financing does not involve any underwriters, and the closing is expected to be completed on January 14.
The post-transaction impact is even more noteworthy. Upexi's SOL reserves are expected to increase by 12%, which means the company's strategic position within the SOL ecosystem will be further strengthened. For participants in the SOL ecosystem, such institutional-level reserve growth often influences the overall development pace of the ecosystem.