$500M Convertible Note Deal Fuels Classover’s Solana Treasury Expansion

Classover Holdings Secures $500M Convertible Note Deal to Accelerate Solana Treasury Build-Up

Classover Holdings (KIDZ), a publicly traded online education firm, is making a strategic move to expand its Solana (SOL) holdings through a new convertible note offering.

The company announced it has entered an agreement to issue up to $500 million in senior secured convertible notes, with plans to allocate up to 80% of the proceeds toward purchasing SOL tokens for its treasury.

This funding round, initiated with an initial $11 million tranche from Solana Growth Ventures, allows Classover to significantly scale its SOL accumulation strategy.

The convertible notes include terms allowing investors to convert into Class B shares at double the stock’s trading price prior to deal closing, with certain adjustment provisions. Other market players, such as Defi Development Corp., are pursuing similar expansions of their Solana treasuries.

This initiative follows Classover’s earlier purchase of approximately 6,472 SOL tokens for $1.05 million, marking the early phase of its long-term investment in the Solana ecosystem.