Classover Holdings Inc. secures a $500 million financing deal with Solana Growth Ventures LLC for senior secured convertible notes.
Up to 80% of the net proceeds from the agreement will be used to purchase SOL tokens to strengthen the company's financial position.
The move aims to address operational and liquidity challenges, with Classover aiming to diversify and stabilize its balance sheet.
The financing deal follows a prior $400 million equity raise, highlighting a strategic shift towards developing a blockchain-based treasury reserve around Solana.