Wu said that Upexi announced the signing of a securities purchase agreement with Hivemind Capital Partners, issuing approximately $36 million in convertible notes to lock in SOL as consideration and collateral; the notes have an interest rate of 1.0% (quarterly payments), a fixed conversion price of $2.39 per share, and a 24-month term; the transaction is expected to be completed by January 14, with no underwriters involved; after completion, the company's SOL reserve is expected to increase by 12% to over 2.4 million SOL.
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Wu said that Upexi announced the signing of a securities purchase agreement with Hivemind Capital Partners, issuing approximately $36 million in convertible notes to lock in SOL as consideration and collateral; the notes have an interest rate of 1.0% (quarterly payments), a fixed conversion price of $2.39 per share, and a 24-month term; the transaction is expected to be completed by January 14, with no underwriters involved; after completion, the company's SOL reserve is expected to increase by 12% to over 2.4 million SOL.