$Upexi (UPXI.US)$ Upexi Provides Shareholder Update on Restr...
Upexi Provides Shareholder Update on Restructuring to Reduce Debt and Increase Working Capital
Accesswire· 05:00
Upexi (UPXI.US)
0.392
+41.44%
TAMPA, FL / ACCESSWIRE / August 5, 2024 / Upexi, Inc. (NASDAQ:UPXI) (the "Company" or "Upexi"), a multi-faceted Amazon and Direct-to-Consumer ("DTC") brand owner and innovator in aggregation, today is providing shareholders with an update on its restructuring to reduce debt and increase working capital through the sale of assets.
After the closing of several transactions since the nine month period ended, March 31, 2024, the Company has:
$16.1 million eliminated in debt and accrued interest
$7.4 million in cash to strengthen the balance sheet
Approximately $1.5 million eliminated in excess operational costs, without affecting operations
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