SOL Treasury Company Upexi Enters into a $36 Million SOL-Collateralized Convertible Bond Transaction with Hivemind

Techub News reports, according to Cryptobriefing, SOL treasury company Upexi has signed a securities purchase agreement with Hivemind Capital Partners to issue $36 million worth of convertible notes backed by locked SOL tokens. The transaction is expected to increase Upexi's SOL holdings by 12% to over 2.4 million SOL, making it the second-largest corporate SOL holder after Forward Industries, which holds 6.9 million SOL. The issuance is conducted as a private placement, with no public offering. The related securities are not initially registered in the United States and can only be resold under an effective registration statement or an exemption.