Upexi Files $1 Billion Shelf Registration with SEC

Upexi, a publicly traded company on the U.S. stock market, has submitted a $1 billion shelf registration with the U.S. Securities and Exchange Commission (SEC) to raise funds through various securities offerings, according to BlockBeats. The company currently holds around 2 million SOL tokens, making it the fourth-largest SOL asset holder among publicly listed firms. The proceeds from this fundraising could be used for working capital, research and development, and debt repayment.

Upexi's stock price has fallen sharply, declining from a high of $22.57 in May to $1.825. Today, the stock dropped an additional 8.3%, bringing the company's market capitalization to $115 million.