Upexi to acquire remaining 45% interest in Cygnet ahead of schedule

Upexi announced that the Company has acquired the remaining 45% interest in Cygnet Online. The acquisition will result in the Company’s full ownership of Cygnet’s expanding business and secures the Amazon reseller business expansion strategy for the future. Cygnet has been selling on Amazon for many years, with a focus on the OTC, supplements, and beauty markets. With sales over $29.5M in calendar 2022, it is a well-established secondary market seller on Amazon with licenses to sell many branded OTC products. Cygnet has achieved substantial growth for the past two years and the synergies with Upexi are expected to increase both the number of products and total sales in the future. The deal closes the week of May 15th with structured cash payments equaling $1.95M over the subsequent 12 months.