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According to reports, Classover Holdings Inc. (NASDAQ: KIDZ) has taken a bold turn. It just signed a deal with Solana Growth Ventures LLC that could bring up to $500 million in senior secured convertible notes.
The deal kicks off with an $11 million investment once all conditions are met. What stands out is the plan to use as much as 80% of net proceeds to buy SOL tokens.
Classover’s Big Crypto Bet
Classover is aiming to build a Solana-based treasury reserve. That means most of its new money will end up in SOL tokens. Even though crypto is known for its ups and downs, the company seems set on this path. It had a 0.02 liquidity ratio before this deal, which shows how tight its cash flow was.
Now, by putting money into SOL, Classover is hoping to steady things out. Based on reports, this move is part of a broader strategy to shift its financial focus toward blockchain assets.
đź’ĄBREAKING
CLASSOVER HOLDINGS SECURES $500M FOR SOLANA TREASURY STRATEGY
PLANS TO ALLOCATE UP TO 80% TO BUY $SOL. pic.twitter.com/mZZAnogzIi
— DustyBC Crypto (@TheDustyBC) June 3, 2025
Convertible Notes And Share Impact
The notes can be turned into Class B common stock. They’re set to convert at twice the closing share price before the deal closes. That gives early investors a chance for upside if the stock moves higher. It also cuts down on dilution risks for the current owners, at least for now.
Chardan is the only placement agent and financial advisor on the deal. The new financing follows a $400 million equity raise that pushed their potential capital access to $900 million. Back-to-back moves like these point to a longer-term plan to overhaul Classover’s treasury setup with Solana at its center.
Struggles In Education Business
Classover launched in 2020, offering live online classes for K-12 students around the world. They even added AI tools to their platform. But revenues dropped by almost 100% year-over-year. That fall is a red flag for any company.
With a market cap of about $60 million, Classover is in a spot where every dollar counts. Reports say the latest SEC filings show changes to executive pay. It looks like they want to keep their leadership team in place while they work through these money problems. Still, it’s hard to ignore those steep revenue losses and the worry around cash on hand.
Solana’s Price Movements
Solana itself has been under pressure lately. It tried to get back above $180 but failed. That led to a pullback in line with a wider market correction. Right now, SOL is trading around $162. That’s about a 6.2% rise in the last 24 hours.
Its total market cap sits at $84.7 billion, and trading volume is around $3.70 billion. If demand doesn’t pick up soon, SOL could slip further before finding strong support. For Classover, any big drop in SOL’s price could hurt its new treasury plan.
Featured image from Unsplash, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
