---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-25-005150"
form_type: "8-K"
ticker: "UPXI"
cik: "0001775194"
company_name: "UPEXI, INC."
filed_at: "2025-07-18T23:59:59+00:00"
generated_at: "2026-05-18T05:48:29.506725+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Upexi closes $150M convertible note offering secured by Solana; total concurrent $200M raise

## Summary
- $150M secured convertible notes with fixed conversion at $4.25, 2% interest, 24-month maturity, collateralized by SOL.
- Combined with $50M equity offering for total ~$200M gross proceeds before fees.
- Company now holds ~1.65M SOL, more than doubling prior treasury of ~735,692 SOL.
- Agreed to file resale registration statement for conversion shares within 30 days of closing.
- Big Brain Holdings led the note offering; A.G.P. acted as sole placement agent.

## SEC filing metadata
- accession: 0001477932-25-005150
- form_type: 8-K
- ticker: UPXI
- cik: 0001775194
- company_name: UPEXI, INC.
- filed_at: 2025-07-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775194/000147793225005150/0001477932-25-005150-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775194/000147793225005150/upxi_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-25-005150
- JSON: https://secwatch.observer/filing/0001477932-25-005150.json
- Plain text: https://secwatch.observer/filing/0001477932-25-005150.txt

## Key facts
- Debt Financings
  UPEXI, INC. incurred convertible notes of $151,169,169 with certain investors (the "Purchasers") at two percent (2%) per annum maturing second anniversary of the closing.
  - Instrument: convertible notes
  - Principal: $151,169,169
  - Counterparty: certain investors (the "Purchasers")
  - Rate: two percent (2%) per annum
  - Maturity: second anniversary of the closing
  - Event: incurrence
  source text: the Company agreed to sell and issue to the Purchasers in a private placement offering (the “Note Offering”) secured convertible notes (the “Notes”) in exchange for locked and spot Solana in the aggregate, original principal amount of $151,169,169. The Notes mature on the second anniversary of the closing and bear interest at a rate of two percent (2%) per annum
  evidence_url: https://www.sec.gov/Archives/edgar/data/1775194/000147793225005150/0001477932-25-005150-index.htm

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