Shares in Upexi fell sharply following a new regulatory filing.
The stock closed Tuesday down roughly seven and a half percent.
The decline followed a $1 billion shelf registration filing.
Upexi submitted the registration to the Securities and Exchange Commission.
The filing allows the company to raise capital over time.
Potential instruments include common stock preferred shares and debt.
Warrants and unit offerings were also included in the filing.
Upexi said proceeds would be used for general corporate purposes.
The company’s core strategy centres on accumulating solana tokens.
Upexi primarily stakes solana to earn additional rewards.
Investors interpreted the filing as signalling future solana purchases.
The move came after more than five months without new acquisitions.
Upexi currently holds approximately two point one million solana.
Those holdings are valued at about two hundred sixty two million dollars.
Data ranks Upexi as the fourth largest corporate solana holder.
The company pivoted from consumer products earlier this year.