Upexi announces $7M registered direct offering of 2.12M shares at $3.30/share

UPEXI, INC.

Gross proceeds of ~$7M from sale of 2,121,213 shares at $3.30 per share.
Closing expected on or about May 16, 2023, subject to customary conditions.
A.G.P./Alliance Global Partners is lead placement agent; Paulson Investment Co is co-placement agent.
Placement agents receive 8% cash fee and warrants exercisable at $4.774 per share.
Offering made via existing shelf registration statement on Form S-3 (effective July 12, 2022).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

UPEXI, INC. entered into Purchase Agreement with certain accredited investors named therein valued at aggregate gross proceeds from the Offering of approximately $7 million (effective 2023-05-11).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors named therein
Value: aggregate gross proceeds from the Offering of approximately $7 million
Effective: 2023-05-11

Exact text from the filing

On May 11, 2023, Upexi, Inc., a Nevada corporation (the “Company”), entered into a securities purchase agreement (the “Purchase Agreement”) with certain accredited investors named therein (the “Investors”), pursuant to which the Company agreed to issue and sell, in a registered direct offering by the Company directly to the Investors (the “Offering”), an aggregate of 2,121,213 shares (the “Shares”) of common stock, par value $0.001 per share, of the Company (“Common Stock”), at an offering price of $3.30 per share, for aggregate gross proceeds from the Offering of approximately $7 million before deducting the placement agent fee and related offering expenses.

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Source: SEC EDGAR

accession 0001477932-23-003379

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