Solana treasury Upexi slides 7.5% on $1B shelf registration filing

Shares in Upexi closed down 7.5% after filing to raise up to $1 billion to expand its Solana treasury and pursue other opportunities. The raise could cover common and preferred stock, debt securities, warrants, and units. Net proceeds will be used for general corporate purposes. Upexi holds 2.1 million SOL worth $262.3 million. Solana treasury purchases have slowed amid a broader crypto market pullback. Upexi's shares closed at $1.84, down 7.54%, but gained 4.34% after hours. Solana is trading at $123.75, down 57.5% from its all-time high.