Shares in Upexi closed down 7.5% after filing to raise up to $1 billion for Solana treasury expansion and other opportunities. Upexi holds 2.1 million SOL worth $262.3 million, making it the fourth-largest corporate Solana treasury company. Shares closed down 7.54% at $1.84 but rallied to $1.92 after hours.

Solana treasury purchases slowed in 2025 amid market pullback. Upexi saw a pivot from consumer products to a Solana treasury company in late April. However, it hasn’t made a Solana purchase since July, with the value of its SOL stash dropping to $262.3 million from a peak of $525 million.

Upexi is currently holding a 19% paper loss on its Solana treasury. Solana is trading at $123.75, down 57.5% from its all-time high of $293.31 on Jan. 19, 2025. Magazine feature: Sei wallets in Xiaomi, Bhutan’s gold on Solana: Asia Express.

Read more at CoinTelegraph: Upexi Falls 7.5% After Filing for $1B Raise