Upexi, a consumer products company, is raising $200 million to enhance its treasury of Solana (SOL) assets. This funding will comprise $50 million from an equity offering and $150 million from convertible notes. Once this round is completed, Upexi is expected to possess about 1.65 million SOL, valued around $270 million, making it the largest Solana treasury among publicly traded firms. The convertible notes will be collateralized by locked SOL from the purchasers, maturing in two years with a 2% interest rate. Upexi initially announced its intent to build a SOL-focused treasury back in April, raising $100 million prior. Following this announcement, the firm's shares rose by 7.8% to $5.39, though they are down nearly 58% from last month's peak after a significant first raise. As the market sees increased interest in crypto assets, Solana itself has also experienced price growth recently, trading at around $164.29, supported by positive market sentiment surrounding Bitcoin and other cryptocurrencies.

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