Nasdaq-listed consumer brand company Upexi Inc. (UPXI) announced a $500 million equity credit line agreement with Alliance Global Partners on July 28, 2025. The facility allows Upexi to issue common stock to fund general corporate expenses and expand its Solana (SOL) treasury strategy, with CEO Allan Marshall highlighting "zero fees and very advantageous terms" that provide low-cost capital flexibility.
Upexi, an early adopter of altcoin treasury strategies, currently holds 1.9 million SOL worth over $381 million. This follows a July 2021 acquisition of 100,000 SOL via a $200 million private placement. More than half of Upexi’s SOL was purchased at a discount in locked form, generating an estimated $58 million unrealized gain. The company stakes nearly all holdings for yield, projecting $26 million in annual staking revenue.
Despite the announcement, SOL exhibited volatile price action, swinging 4.47% between $186.38 and $194.99 within 24 hours. After an initial rally to $194.99, heavy selling pressure drove prices down to $187.38 before a late rebound to $188.81. Technical analysis noted institutional accumulation signals in volume spikes exceeding 2.5 million units during recovery phases.