$500M Capital Injection Positions Nasdaq-Listed Upexi to Deepen Solana Treasury Allocation

Upexi Secures $500M Equity Line to Scale Solana Holdings and Enhance Staking Strategy

Upexi Inc. (Nasdaq: UPXI), a consumer brand firm with growing exposure to digital assets, announced a $500 million equity line agreement on July 28 to support the expansion of its Solana (SOL) treasury and staking operations. The deal, structured with A.G.P./Alliance Global Partners, allows the company to issue common stock at its discretion under favorable terms, with no commitment fees.

In a press release, Upexi stated the capital will be allocated toward general corporate purposes as well as accelerating its Solana accumulation strategy. The move gives the firm additional flexibility to increase its on-chain exposure and boost returns through staking.

“This facility gives Upexi access to cost-efficient capital and strengthens our ability to scale our Solana position,” said CEO Allan Marshall. “It adds another strategic lever to drive growth through blockchain-based treasury innovation.”

The announcement follows Upexi’s recent purchase of 100,000 SOL, funded via a $200 million private placement, bringing its total holdings to 1,818,809 SOL — worth approximately $331 million at the time of disclosure. Over half the tokens were acquired in locked form at a discount, resulting in an estimated $58 million in unrealized gains.

Upexi has staked nearly all of its SOL, with projections indicating up to $26 million in annual staking rewards at current yields. To improve transparency, the firm also introduced a new valuation ratio called the Basic mNAV, which compares Upexi’s market capitalization to the dollar value of its SOL holdings. As of July 18, the mNAV stood at 1.2x.

Despite the bullish treasury expansion, Solana’s market reaction was subdued. SOL declined 0.99% to $187.35 in the last 24 hours, following an intraday reversal from session highs.

Solana Price Movement: July 27–28 Technical Summary

• 24-Hour Range: $186.38 to $194.99 — a 4.47% swing
• Early Upside: SOL rallied to $194.99 by 05:00 UTC on July 28, posting a 4.59% gain
• Midday Pullback: Fell from $192.82 to $187.38 between 12:00–14:00 UTC amid heavy volume
• Final Hour Rebound: Gained 0.78%, closing at $188.81 after retesting and clearing $188.50 resistance
• Volume Spike: 39,417 units traded at 15:32 UTC, suggesting renewed institutional interest

While short-term sentiment was mixed, late-session accumulation may signal market confidence in the growing trend of corporate crypto treasuries — particularly those leveraging staking models for yield generation.