Upexi, Inc. received a notice from Nasdaq stating it is not in compliance with Listing Rule 5635(a) regarding shareholder approval requirements. The determination stems from two transactions involving secured convertible notes issued for Solana (SOL): a $151,169,169 issuance on July 9, 2025, and a $36 million issuance on January 9, 2026. Nasdaq asserts these notes are convertible into 20% or more of the company's outstanding shares and voting power. The company has until August 10, 2026, to submit a compliance plan. Additionally, the company announced its addition to the Russell Microcap Index effective June 29, 2026. Upexi, Inc. is a technology-driven consumer goods company.
