Upexi Takes Full Control Of Amazon-Reseller Cygnet Online One-Year Ahead Of Schedule

  • Upexi Inc. UPXI has acquired the remaining 45% interest in Cygnet Online LLC with 1,200 active SKUs of branded OTC products.
  • Cygnet has been selling on Amazon.Com, Inc. AMZN Amazon for many years, focusing on the OTC, supplements, and beauty markets. 
  • The deal closes the week of May 15th with structured cash payments equaling $1.95 million over the subsequent 12 months.
  • Cygnet reported sales of over $29.5 million in calendar 2022.
  • Upon closing, UPXI will have full ownership of Cygnet's expanding business and the Amazon reseller business expansion strategy for the future.
  • Upexi held cash and cash equivalents of $4.5 million as of Dec. 31, 2022.
  • Upexi CEO, Allan Marshall, commented, "The deal solidifies our Upexi Amazon reseller strategy for the future and reduces the overall cost structure for the business. Closing the deal early offers significant G&A savings and the opportunity to purchase Cygnet at a substantial discount to next year's overall anticipated cost."
  • Price Action: UPXI shares traded higher by 1.15% at $3.9450 on the last check Wednesday.
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