Nasdaq-listed edtech firm Classover Holdings (NASDAQ: KIDZ) has announced a major strategic pivot with a massive $550 million Solana (SOL) purchase, forming the foundation of its own Solana treasury reserve. The company signed a $500 million securities purchase agreement with Solana Growth Ventures LLC via senior secured convertible notes. As part of the initial closing, Classover secured an $11 million financing deal, offering noteholders the right to convert into Class B common stock at a steep 200% premium.
The move immediately sparked investor confidence, with KIDZ stock surging 40% on Monday, closing at $3.72. For a company grappling with liquidity challenges — its current ratio sits at just 0.02 — this capital infusion marks a critical financial lifeline. Classover CEO Ms. Luo described the partnership as a “pivotal milestone,” emphasizing the firm’s long-term commitment to crypto integration, particularly Solana.
80% of Funds Earmarked for SOL Acquisition
Under the agreement terms, a minimum of 80% of the net proceeds from the convertible notes will go toward Solana purchases. Notably, this initiative is separate from an earlier $400 million equity agreement, pushing Classover’s total potential financing capacity for its Solana reserve to an eye-popping $900 million.
The company had already started building its reserve prior to this deal, purchasing 6,472 SOL tokens worth approximately $1.05 million. As Solana gains greater traction in institutional circles, Classover’s aggressive positioning reflects broader market sentiment shifting toward altcoins as part of treasury diversification.
Also Read: Solana Dips as Pump.fun Dumps $25M in SOL
Crypto Treasuries Go Mainstream With BTC, ETH, SOL
Classover’s bold entry into Solana holdings mirrors a growing trend among public companies. NewGen Group recently rolled out a $30 million SOL staking strategy, while Sharplink Gaming revealed a $425 million Ethereum treasury. Meanwhile, BTCS added another 1,000 ETH to its holdings, now totaling 13,500 ETH.
Following the Classover announcement, SOL’s price ticked up 2% to $158, signaling positive market reception. As corporate treasuries increasingly embrace digital assets like BTC, ETH, and SOL, this latest development could further elevate Solana’s status as a serious contender in the crypto-financial landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
