Classover Holdings Commits Up to $500M to Expand Solana Treasury with Convertible Note Deal
Classover Holdings (KIDZ), a publicly traded online education company, is making a significant investment in Solana (SOL), signaling confidence in the blockchain platform’s future.
The company announced a new agreement to issue up to $500 million in senior secured convertible notes, with plans to dedicate the majority of the proceeds to acquiring SOL tokens for its treasury.
Under the deal with Solana Growth Ventures, an initial funding tranche of $11 million has already been secured. Classover intends to allocate as much as 80% of the net proceeds from these notes directly toward expanding its Solana holdings.
The convertible notes offer investors the option to convert into Class B shares at twice the stock’s trading price before closing, with built-in adjustment mechanisms. This strategic move aligns Classover with other firms, such as Defi Development Corp., that are intensifying their focus on growing SOL treasury assets.
This latest initiative builds on Classover’s previous acquisition of 6,472 SOL tokens for approximately $1.05 million, marking the start of a broader Solana accumulation strategy.
