---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-22-008144"
form_type: "8-K"
ticker: "UPXI"
cik: "0001775194"
company_name: "UPEXI, INC."
filed_at: "2022-11-03T23:59:59+00:00"
generated_at: "2026-06-22T09:37:42.065597+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Upexi pays off $15M senior secured debt, expects $900k annual interest savings

## Summary
- Paid outstanding balance on $15M senior secured debt facility; registration statement covering loan to be terminated.
- Annualized interest expense expected to decrease by approximately $900,000.
- Sale of CBD assets provided flexibility to reduce overall expenses.
- CEO Allan Marshall states balance sheet now allows working with commercial lenders at more attractive rates.

## SEC filing metadata
- accession: 0001477932-22-008144
- form_type: 8-K
- ticker: UPXI
- cik: 0001775194
- company_name: UPEXI, INC.
- filed_at: 2022-11-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775194/000147793222008144/0001477932-22-008144-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775194/000147793222008144/upxi_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-22-008144
- JSON: https://secwatch.observer/filing/0001477932-22-008144.json
- Plain text: https://secwatch.observer/filing/0001477932-22-008144.txt

## Key facts
- Material Agreements
  UPEXI, INC. terminated Letter Agreement with two accredited investors valued at $7,500,000 in convertible notes and all security interests cancelled (effective 2022-10-31).
  - Action: termination
  - Agreement: notes offering
  - Counterparty: two accredited investors
  - Value: $7,500,000 in convertible notes and all security interests cancelled
  - Effective: 2022-10-31
  source text: On October 31, 2022, Grove, Inc. (the “Company”) entered into a Letter Agreement pursuant to which it paid in full all amounts owed to two accredited investors from which the Company originally received $7,500,000, less fees and costs. The related convertible notes and all security interests have been cancelled, and the Company intends to promptly terminate the related Form S-3 registration statement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1775194/000147793222008144/0001477932-22-008144-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.