Upexi Secures $500 Million Equity Line to Boost Solana Treasury

Upexi Inc., a Nasdaq-listed consumer brand, has announced a $500 million equity line agreement with A.G.P./Alliance Global Partners. This arrangement allows Upexi to issue common stock for corporate purposes and expand its Solana (SOL) treasury strategy.

The facility includes no commitment fee and favorable terms, providing an attractive cost of capital.
Upexi's CEO stated the equity line enhances capital-raising flexibility and increases their SOL position.
The company previously disclosed acquiring 100,000 SOL, bringing total holdings to 1,818,809 SOL worth approximately $331 million.
More than half of the tokens were bought in locked form at a discount, leading to an estimated $58 million unrealized gain.
Nearly all SOL is staked, with projections of up to $26 million in annual staking revenue.
A new benchmark called “Basic mNAV” measures market cap against SOL value, with a ratio of 1.2x as of July 18.
Despite these developments, SOL's price declined 0.99% to $187.35, showing mixed sentiment following heavy selling pressure.

Technical Analysis:

SOL traded between $186.38 and $194.99 over a 24-hour period.
Price increased from $186.42 to $194.99 before hitting resistance.
A selloff occurred, dropping the price from $192.82 to $187.38 on high volume.
In the final hour, SOL rebounded from $187.34 to $188.81, consolidating around this range.
Volume spikes during recovery suggest potential institutional accumulation and further gains.