#BinanceAlphaAlert
๐ Nasdaq-Listed EdTech Firm Classover Plans $500M Investment to Build SOL-Based Treasury
Classover Holdings Inc., a Nasdaq-listed educational technology company, has made headlines with its bold move into the world of blockchain. The New York-based firm has announced a major financing agreement aimed at building a Solana (SOL)-based corporate treasury, marking one of the largest treasury pivot strategies toward Solana in 2025.
๐น Key Highlights:
๐ Stock surged 39.85% following the announcement.
๐ฐ Plans to raise up to $500 million via senior secured convertible notes.
๐ช 80% of funds to be used to purchase SOL, the native token of Solana blockchain.
๐งพ This follows an earlier $400 million equity purchase deal, bringing the total strategic financing capacity to $900 million.
๐ Deal Details:
According to an official press release, Classover signed a securities purchase agreement with Solana Growth Ventures LLC, allowing the issuance of up to $500M in convertible notes. The initial closing of $11M is expected soon, pending standard closing conditions.
Market Reaction:
๐งพ KIDZ (Classover's ticker) closed at $3.72, up nearly 40% on Monday.
๐ The stock is still down 48.19% over the past month and 7.23% YTD.
๐ The announcement triggered renewed interest in Solana-aligned equities, mirroring trends seen with companies like Upexi, Janover, DeFi Development Corp., and SOL Strategies, all of which have recently added SOL to their balance sheets.
๐ง About Classover:
Founded in 2020, Classover provides live online education for K-12 students. The move to build a SOL-based treasury is part of its broader strategy to enhance financial resilience and integrate scalable blockchain technology into its operations.
