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Nasdaq-Listed Company Increases SOL Reserve with Mega Financing Deal

Classover Holdings, a Nasdaq-listed edtech company, has announced a financing agreement of up to $500 million to build a strategic reserve in SOL.

Up to 80% of the funds raised through secured convertible notes will be used to purchase SOL.

With total financing now at $900 million, the company aims to become a trailblazer in integrating blockchain assets into corporate treasuries among listed companies.

A Nasdaq-listed Company is Building a SOL Reserve

The crypto-turn of a Nasdaq-listed edtech player is making waves. Classover Holdings Inc., specializing in online education for K-12 students, announced on Monday a financing agreement of up to $500 million. The goal: build a strategic cash reserve in SOL, Solana’s native token.

An Openly Assumed Crypto Diversification Strategy

The New York-based company has entered into an issuance agreement with Solana Growth Ventures LLC to place up to $500 million in secured convertible notes. The operation includes an initial financing tranche of $11 million, once the usual closing conditions are met.

Up to 80% of the net proceeds from this issuance must be used to buy SOL. This choice aligns with Classover’s strategy of diversifying its cash reserves with a high-performing, scalable digital asset integrated into a rapidly growing ecosystem.

Financing Capacity Now Reaching $900 Million

This new raise complements a previous $400 million stock purchase agreement announced by Classover. The company now has a total financing potential of $900 million, mostly directed towards acquiring SOL.

This agreement marks a major step in our strategy to build a SOL reserve.

We affirm our commitment to be a pioneer among listed companies that directly integrate blockchain assets into their treasuries.

Stephanie Luo, CEO of Classover

Soaring in the Stock Market, Despite a Bearish Trend

The announcement has boosted Classover’s stock, surging to over $5 on the Nasdaq. Despite this rally, the company’s valuation remains down by 50% since February.

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