Solana-based Treasury company Upexi files $1 billion shelf registration with the SEC

BlockBeats News, December 24th, U.S.-listed Solana crypto treasury (DAT) company Upexi submitted a $1 billion shelf registration statement to the U.S. Securities and Exchange Commission (SEC) to raise funds through various securities issuance methods. The company currently holds about 2 million SOL tokens, making it the fourth largest SOL asset holder among listed companies. The potential proceeds can be used for various purposes, including working capital, R&D, and debt repayment.

It is worth noting that Upexi's stock price has dropped from a peak of $22.57 in May to $1.825, falling another 8.3% intraday today, with a market value of $115 million.

Source

Correction/Report

RelatedRecommended

Solana Treasury Stock Upexi Plunges 60%, Did Early Coin Hoarders Begin Taking Profits?

Upexi investors registered 43.85 million shares of resale stock, equivalent to the company's initial float in April. Other Sol Treasury companies rated as "Hold" by Cantor, such as Sol Strategies and DeFi Development, also experienced a price drop, while SharpLink Gaming saw its stock price plummet over 70%.

SEC Releases Key Signal: Is the Solana ETF Back on the Agenda Again?

Check out the latest developments on multiple cryptocurrency ETFs: SEC Review Accelerated, SOL and LTC Making Progress.

The SEC Clearance, Cryptocurrency ETP Poised for Explosive Listing

What will be the outcome of SEC's crackdown on crypto?

SEC accuses global cryptocurrency exchanges Coinbase and Binance of operating unregistered securities exchanges, sparking industry discussion on cryptocurrency regulation.

On-Chain Activity