India, April 21 -- Shares of Upexi, Inc. (UPXI) soared over 530% on Monday morning after the company announced a private placement of $100 million to fund the accumulation of cryptocurrency Solano.
UPXI is currently trading at $14.26, up $11.99 or 537.23%, on a huge volume of 50 million shares, compared to the average volume of 140 thousand, on the Nasdaq. The stock opened its trading at $10.24 after closing Friday at $2.27. The stock has traded between $1.90 and $15.91 in the past 52-week period.
Upexi announced the sale of about 44 million common shares for $2.28 per share for proceeds of around $100 million.
GSR acted as the lead investor, and the offering included participation by many prominent crypto venture capital firms such as B...