ChainCatcher reports that Upexi, Inc. (NASDAQ: UPXI), a company focused on Solana digital assets, has announced it has filed a Form S-3 registration statement with the SEC. The company plans to cancel its existing equity credit facility (which is currently unused) upon the registration statement becoming effective. Upexi stated that this adjustment will improve the company's fundraising efficiency and reduce overall transaction costs through more flexible timing and pricing mechanisms, thereby supporting its Solana asset management strategy.
Once the registration statement becomes effective, the company will use this mechanism in management's judgment, where it is beneficial to adjust the value of each Solana. Upexi currently holds over 2 million Solana (SOL) and has accumulated value through smart capital issuance, staking, and discounted locked token purchases. In addition, the company is engaged in the development, production, and distribution of consumer products.
Previously, Upexi announced the completion of a private placement of up to $23 million in common stock and warrants.
