According to the latest report from PANews, Upexi announced the completion of a significant financing deal involving Solana (SOL) with Hivemind Capital Partners. The financing was conducted through a convertible bond, with Upexi exchanging locked SOL tokens for approximately $36 million in convertible bond funds.

The terms of the convertible bond are quite flexible. The bonds have an annual interest rate of 1%, paid quarterly, with a maturity of 24 months, and are secured by the provided Solana as collateral. Notably, the fixed conversion price of the bond is set at $2.32 per share, leaving some flexibility for future conversions.

After the transaction is completed, the relevant SOL will be incorporated into Upexi's corporate treasury, meaning the company's Solana holdings are expected to exceed 2.4 million tokens. This convertible bond financing was conducted through a private placement, not involving a public offering. The related securities are initially not registered in the United States and can only be resold under valid registration statements or exemption conditions. This arrangement protects investors' rights while providing Upexi with flexible capital operation options.