Upexi Expands $500M Equity Line to Boost Solana Treasury Strategy

Solana’s (SOL) growing appeal among institutions gained momentum as Nasdaq-listed Upexi Inc. unveiled a $500 million equity line agreement with A.G.P./Alliance Global Partners. Announced Monday, the facility allows Upexi to issue common stock on flexible terms, providing capital to expand its aggressive Solana treasury strategy launched earlier this year.

Upexi confirmed the funds will support corporate initiatives and increase SOL accumulation, highlighting the absence of commitment fees and favorable cost of capital. CEO Allan Marshall emphasized the agreement enhances the company’s ability to raise capital “in the most cost-effective and accretive manner.”

This move follows Upexi’s July 21 acquisition of 100,000 SOL via a $200 million private placement, lifting its total holdings to 1,818,809 SOL — valued at roughly $331 million. More than half of the tokens were acquired in locked form at a discount, generating an estimated $58 million unrealized gain. Nearly all holdings are staked, projected to yield $26 million annually at current rates.

The firm introduced a benchmark, “Basic mNAV,” tracking market cap against the dollar value of its SOL reserves. As of July 18, the ratio stood at 1.2x, underscoring its significant crypto exposure.

Despite the announcement, SOL prices slipped 0.99% to $187.35 amid heavy intraday selling. Trading data showed a 4.47% range between $186.38 and $194.99 over 24 hours, with late-session volume spikes signaling renewed institutional buying interest. Analysts suggest further gains may emerge as treasury updates and broader market catalysts unfold, cementing Solana’s status as a key altcoin for corporate treasuries and investors seeking yield opportunities in the blockchain sector.