Upexi, Inc. (UPXI, Financial) has successfully finalized securities purchase agreements with a group of investors, resulting in the sale of 43,859,649 shares of common stock. Each share is priced at $2.28, amassing total gross proceeds of around $100 million before the subtraction of placement agent fees and other related offering expenses.
GSR led the investment initiative, attracting participation from a host of notable crypto venture capital entities such as Big Brain, Anagram, Delphi Ventures, and White Star Capital. The offering also saw contributions from high-profile angel investors, including Austin Federa, Frank Chaparro, and Joey Krug, alongside Allan Marshall, CEO of Upexi.
The transaction is anticipated to close on or around April 24, contingent upon the fulfillment of standard closing conditions. Upexi plans to allocate approximately $5.3 million for working capital and debt reduction purposes. The remaining funds are earmarked for setting up the Company’s Solana treasury operations and bolstering its Solana holdings.
A.G.P./Alliance Global Partners is serving as the exclusive placement agent for this offering.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Upexi Inc (UPXI, Financial) is $25.00 with a high estimate of $25.00 and a low estimate of $25.00. The average target implies an upside of 989.32% from the current price of $2.30. More detailed estimate data can be found on the Upexi Inc (UPXI) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Upexi Inc's (UPXI, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Upexi Inc (UPXI, Financial) in one year is $6.76, suggesting a upside of 194.55% from the current price of $2.295. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Upexi Inc (UPXI) Summary page.
