Classover Holdings Announces $500 Million Deal to Expand Solana Treasury
Classover Holdings (KIDZ) is investing significantly in Solana (SOL). Key points include:
- The company announced a plan to sell up to $500 million in senior secured convertible notes.
- Proceeds will primarily fund Solana token purchases, with 80% of net proceeds allocated for this purpose.
- An initial funding round of $11 million has been secured through an agreement with Solana Growth Ventures.
- The notes can convert into Class B shares at double the stock's trading price prior to closing.
- Classover previously acquired 6,472 SOL for approximately $1.05 million.
- Other firms are also increasing their investments in Solana.