At the time of writing, Solana
Upexi (UPXI), a consumer brands that is listed in Tampa that is mentioned on Nasdaq, announced on Friday that it obtained approximately $ 200 million in new financing through a combination of stock and convertible note offers. Part of the proceeds will support the existing activities of UPEXI, while the rest will be used to grow its cryptocurrency course, with a specific focus on Solana
As part of the stock component, Upexi has collected $ 50 million from accredited and institutional investors, including the CEO Allan Marshall. Shares were sold at $ 4.00 each, with management purchase with a premium of $ 4.94. The company said that the share agreement is expected to be concluded around July 14.
UPEXI agreements have been concluded separately to issue $ 150 million in convertible banknotes to institutional investors. The banknotes are supported by Sol as collateral and wear an annual interest rate of 2%. They are convertible in Upexi shares at a fixed price of $ 4.25 per share and adults in 24 months. The notes are expected to close around July 16, at which point the corresponding SOL will be added to the interests of the company.
In a press release of 26 June, Upexi revealed that it had 735,692 SOL as of 24 June, an increase of 8% compared to the 679,677 Sol reported on 28 May. When closing the new financing, Upexi more than expects the current SOL position.
The range was carried out in private and were not registered with the SEC.
Technical analysis
- Sol showed an exceptional resilience during the previous period from 24 hours from July 10, 3:00 pm to 11 July 14:00, from $ 156.45 to $ 166.65, with a substantial rating of 6.52% with a total trade range of $ 10.99 from $ 155.78 to $ 166.76.
- The price dynamics revealed distinctive accumulation sequences with considerable support for volume-supported support for $ 160.31 during the progress of 21:00, where the extraordinary volume of 3.23 million exceeds the 24-hour average of 1.34 million, in the affirmative institutional capital input.
- The crucial resistance came about near $ 165.30, subject to several studies between 22:00 and 03:00, while the convincing breakthrough above $ 166.00 took place with reinforced volume of 2.26 million, which intended persistent bullish conviction.
- The technical architecture suggests that SOL has consolidated a superior trade corridor with robust volume validation, which determines foundations for potential progress towards the psychological threshold of $ 170.00.
- During the closing interval of 60 minutes from July 11, 13:05 to 14:04, SOL came across a considerable volatility, which kept his umbrella bullish disposition, oscillating within a bandwidth of $ 2.90 from $ 164.24 to $ 165.92.
- The period manifested typical consolidation attributes that include two discreet phases: a first refuge to $ 164.28 circa 13:33 accompanied by a more intensive distribution pressure of 45,017 volume, followed by a powerful recovery that was collected at 13:48.
- Fundamental support crystallized nearly $ 164.30 with several successful exams, while the resistance was approximately $ 166.50- $ 166.75, which sets up a well-rejected trading competition that constructive price evidence is demonstrated after the antecedent of the broad-hour exit for Potentialsol for Potentialsol for Potentialsol for Potentialsol consolidation phase.
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