Nasdaq Listed Company Launches $500M Plan to Build Solana-Based Treasury Reserve

According to the information the company has completed its initial Solana (SOL) purchase and entered into a securities purchase agreement with Solana Growth Ventures LLC for the issuance of up to $500 million in senior secured convertible notes, aimed at accelerating its SOL-based treasury strategy.

Key Highlights:

Up to $500M in Funding: The agreement allows Classover to issue up to $500 million in senior secured convertible notes. An initial $11 million closing is expected soon, pending customary conditions. Conversion Option: The notes are convertible into Classover’s Class B common stock at a conversion price of 200% of the closing price of the Class B shares on the issuance date. SOL Allocation: Classover will allocate up to 80% of net proceeds from the note issuance toward acquiring and staking Solana (SOL) tokens, further integrating crypto assets into its treasury framework. Strategic Expansion: This new agreement builds on a previously announced $400 million equity financing deal, bringing the company’s total potential financing capacity to $900 million, all aimed at expanding its SOL holdings. Initial Investment Complete: Prior to the agreement, Classover had already acquired 6,472 SOL valued at approximately $1.05 million, signaling the beginning of a long-term strategy to acquire, hold, and stake SOL.

A Web3-Ready Treasury Approach

By anchoring its treasury strategy in Solana, Classover joins a growing list of public companies diversifying into crypto reserves. This move signals both a commitment to blockchain innovation and a hedge against traditional financial system volatility.

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