Upexi, a US-listed company, announced the completion of a $10 million private placement.

Odaily Planet Daily reports that Nasdaq-listed Upexi (UPXI) has announced the completion of a private placement, issuing 3,289,474 ordinary shares and warrants. The warrants allow the purchase of up to 3,289,474 ordinary shares at a total purchase price of US$3.04 per share.

The total proceeds from this placement are approximately US$10 million. If all warrants are exercised in cash, an additional US$13 million is expected to be raised. The company plans to use the net proceeds from this placement for working capital, general corporate purposes, and its internal management's SOL maximum return strategy.