Share this article
Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
The company will allocate up to 80% of the proceeds from the notes towards SOL purchases.
Jun 3, 2025, 1:27 p.m.
Make us preferred on Google
What to know:
- Classover Holdings is investing heavily in solana, aiming to build a SOL-focused treasury.
- The investment is funded by a $500 million agreement with Solana Growth Ventures, with an initial $11 million round.
- Classover plans to allocate up to 80% of the net proceeds from the notes toward SOL purchases.
Classover Holdings (KIDZ), a publicly traded online education company, has revealed it’s making a big bet on solana .
The company said in a press release that it entered a new agreement to sell up to $500 million in senior secured convertible notes, aiming to use most of the proceeds to build a treasury of SOL tokens.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The agreement, made with Solana Growth Ventures , allows for an initial $11 million funding round. Classover plans to allocate up to 80% of the net proceeds from the notes toward SOL purchases.
These notes can be converted into Class B shares at double the stock's trading price prior to closing, with adjustment clauses baked in. It’s worth noting that other firms, including Defi Development Corp., are also doubling down on their SOL treasury initiatives.
Classover’s move builds on its earlier acquisition of 6,472 SOL, for roughly $1.05 million, marking the beginning of its solana accumulation strategy.
