Upexi voluntarily terminates acquisition of superfoods brand

Upexi announced the voluntary termination of the previously announced acquisition of a brand specializing in the superfoods company. Company management has determined that the overall transaction value for shareholders did not make sense in the current market environment, and that reinvesting that capital in growth initiatives for current brands and other businesses should result in a better opportunity for the overall growth and profitability of the company. Upexi’s CEO, Allan Marshall, commented, “As our current business continues to grow, the partnerships and product launches throughout the remainder of 2023 give us numerous opportunities across all our brands to invest in this anticipated growth. We do not presently believe that issuing equity, given the current market conditions, is in the best interest of the company or our shareholders. As a result, we plan to focus on investing the company’s available capital in internal initiatives. It is our belief that these actions will generate more value than the contemplated superfoods brand acquisition.”