Upexi Inc. has announced the pricing of a private placement offering of up to $23 million in common stock and warrants, sold to a single institutional investor. The offering includes 3,289,474 shares of common stock and warrants to purchase the same number of shares at a combined price of $3.04 per share, which is above the current at-the-market price. The warrants are immediately exercisable at $4.00 per share and will expire 48 months from issuance. Upexi expects to receive $10 million upfront, with the potential for an additional $13 million if all warrants are exercised. The securities are being issued in a transaction exempt from SEC registration, with plans to file a resale registration statement following the closing, which is expected on or around December 1, 2025. Proceeds will be used for working capital, general corporate purposes, and the company's Solana-focused investment strategy. A.G.P./Alliance Global Partners is serving as the sole placement agent.