Upexi Issues $19.5M Equity in Private Placement to Reduce Debt

Key Highlights

• Upexi, Inc. entered into a Securities Purchase Agreement for a private placement offering.
• The company issued 5,250,000 shares of common stock at $1.59652 per share.
• Pre-funded warrants to purchase up to 6,992,300 shares were issued at $1.59631 per warrant.
• The aggregate purchase price of the offering was $19,542,634.54.
• The purchase price was paid by retiring $19,542,634.54 of an outstanding $35,961,975 secured convertible note.
• The outstanding principal balance of the note was reduced to $16,419,340.46.
• The securities were issued in reliance on Section 4(a)(2) and Rule 506(b) of the Securities Act.
• Upexi agreed to file a registration statement for the resale of the shares and warrant shares within 30 days.