Upexi (UPXI) said Monday that it has entered into a securities purchase agreement with an existing accredited investor to exchange roughly $19.5 million in debt for equity.
Under the agreement, the investor will receive 12.2 million shares of common stock, or pre-funded warrants in lieu of shares, at an implied price of about $1.60 per share. The transaction will reduce outstanding debt by an equivalent amount before fees and expenses, it added.
Upexi said the transaction is part of a private financing arrangement and does not constitute a public offering of securities.
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