Upexi, a Nasdaq-listed crypto treasury firm with a heavy Solana focus, has filed to raise up to $1 billion through a shelf registration with the U.S. Securities and Exchange Commission. The Tampa, Florida-based company said the shelf gives it the flexibility to offer common stock, preferred shares, debt instruments, warrants or units — in one or more transactions over time — as market needs and opportunities arise. Proceeds from any sales could be allocated to working capital, research and development, acquisitions, debt repayment and other general corporate purposes. Upexi also operates consumer brands such as Cure Mushrooms (medicinal products) and Lucky Tail (pet care). Importantly for the crypto community, the company holds the fourth-largest Solana (SOL) treasury among public firms: more than 2 million SOL, worth roughly $248 million based on Solana trading near $124.32 per token. Market reaction was negative on the filing: Upexi shares dropped nearly 7% on Tuesday to $1.85. Year-to-date, UPXI is down about 50%, while SOL has fallen roughly 34%. Read more AI-generated news on: undefined/news

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