Solana treasury company Upexi has reached a securities purchase agreement to raise $36 million

The Nasdaq-listed Solana treasury company Upexi announced a securities purchase agreement with Hivemind Capital Partners to raise $36 million. The issuance of the notes is expected to be completed around January 14, 2026, subject to customary closing conditions. The notes are backed by locked SOL tokens and will be incorporated into the company's Solana treasury upon completion of the transaction. This deal is expected to increase Upexi's SOL holdings by 12%, reaching over 2.4 million SOL, making it the second-largest corporate SOL holder, behind Forward Industries, which holds 6.9 million SOL.