The post Solana Scores Big as Classover Holdings Plans $500M Treasury Reserve appeared on BitcoinEthereumNews.com.

On June 2nd, Classover announced that it is planning to raise $500 million to establish a SOL corporate treasury reserve. Classover has brought on Chaince Securities, a subsidiary of Mercurity Fintech Holding Inc., as its go-to advisor for navigating digital assets. Recent events have shown us that we are moving away from the norm that we are used to seeing; Bitcoin Reserves. Classover, a company best known for offering online enrichment classes for kids, announced its plan to build a $500 million crypto treasury. The core asset? Solana (SOL). If everything goes as planned, Classover could become one of the first publicly traded companies to make a strong commitment to holding Solana as a core part of its treasury. To kick things off, Classover has struck a deal with Solana Growth Ventures LLC, agreeing to issue up to $500 million in senior secured convertible notes. The first round of funding, $11 million, is expected soon, pending final approvals. Key Highlights of Classover’s plan Classover has locked in a separate $400 million equity purchase agreement with Solana Strategies Holdings. This brings the company’s total potential financing power up to a massive $900 million. With this setup, Classover can sell shares of its Class B Common Stock to help fuel its strategy and cover things like operations and future acquisitions. Interestingly, the notes tied to this deal can be converted into Class B stock by the investor at a starting price that’s double the stock’s closing price the day before the deal closes, though that price can change depending on certain terms in the agreement. The report reads that, “Prior to this agreement, Classover had already initiated its SOL reserve strategy, having purchased 6,472 SOL for approximately $1.05 million, marking the first step in its long-term strategy to acquire, hold, and stake…

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Filed under: News - @ June 3, 2025 4:21 pm