Shares in Upexi fell 7.5% on Tuesday after it filed a $1 billion shelf registration, suggesting its Solana holdings could again grow after over five months of no purchases.
Shares in Upexi closed Tuesday down 7.5% after it filed to raise up to $1 billion to expand its Solana treasury and pursue other opportunities related to the token.
Upexi said in its shelf registration filing to the Securities and Exchange Commission on Tuesday that the raise could cover common and preferred stock, debt securities, warrants and units, which may be issued over time.
It said net proceeds from the offering would be used for general corporate purposes. The company primarily focuses on accumulating as much Solana (SOL) as possible and staking it to be rewarded with additional tokens.
