- Upexi currently has a market capitalisation of $140.32 million.
- The transaction will help the company boost its SOL holdings by 12% to over 2.4 million tokens.
- Solana has seen notable ETF inflows as SOL price hovers near $140.
Upexi, Inc. said on Tuesday that it has entered into a securities purchase agreement with Hivemind Capital Partners for a convertible note valued at about $36 million, to be issued in exchange for locked Solana (SOL) tokens.
The transaction comes as the Nasdaq-listed company continues to expand its digital asset treasury.
Upexi currently has a market capitalisation of $140.32 million.
Upexi eyes more Solana
Under the terms outlined in the press release, the convertible note carries an interest rate of 1.0%, payable quarterly, with a fixed conversion price of $2.39 per share and a maturity of 24 months.
The SOL tokens provided as consideration will be used to collateralise the note.
The securities were issued through a private placement directly to Hivemind Capital Partners, with no placement agent or underwriter involved.
Upon finalising this deal, Upexi will use the capital to buy more SOL tokens.
If completed, DAT’s holdings of the token would rise to more than 2.4 million SOL.
Upexi CEO Marshall said the company recorded a 34% rise in adjusted SOL per share in 2025, adding that the deal represents “a great start to building SOL per share in 2026.”
“This transaction improves Upexi’s market position in the Solana treasury space, is accretive to our adjusted Solana per share should the Note convert to equity, and has limited credit risk given the in-kind nature of the transaction,” stated Upexi CEO Allan Marshall.
Solana sees ETF inflows, price gains
The announcement comes against a backdrop of renewed strength in the Solana ecosystem, with SOL price gaining to above $140 as spot Solana exchange-traded funds (ETFs) continue to attract consistent institutional capital inflows.
On Jan. 12, SOL ETFs saw a total of $10.67 million in inflows, with SoSoValue showing total net inflows at over $827 million and net assets at over $1.14 billion.
Solana has seen consecutive net inflows since investors pulled over $32 million from various spot ETFs on December 3, 2025.
SOL and XRP have posted consistent positive flows, which contrasts with the mixed flows witnessed for Bitcoin and Ethereum.
This institutional interest has supported SOL’s price, which has shown resilience and bounced to above $140.
On January 13, 2026, the price of Solana hovered around $143, up on the day as Bitcoin broke to $93,500.
