Publicly traded firm Upexi announced a $100 million funding round, primarily aimed at establishing a Solana treasury reserve. Following this announcement, Upexi's shares soared, finishing up 335%, hitting $9.89, while peaking at $22 earlier in the day. Approximately 95% of the raised funds are earmarked for creating and operating this Solana-based treasury reserve. GSR led the funding round, with participation from several crypto firms and angel investors, through the sale of 44 million common stock shares at $2.28 each. The company's initiative aligns with a growing trend of public firms integrating cryptocurrency into their business strategies, as seen with other firms like Strategy, which has amassed substantial Bitcoin holdings. Upexi plans to allocate about $5.3 million for working capital and debt reduction, with the funding offer expected to close on April 24, pending customary conditions.

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