According to Foresight News, The Block reported that Classover, a NASDAQ-listed edtech company, signed a securities purchase agreement with Solana Growth Ventures LLC, planning to raise up to $500 million through the issuance of senior secured convertible notes, with up to 80% of net proceeds to be used for purchasing SOL, the native token of the Solana blockchain. Classover stated that the latest financing arrangement is based on its previously announced $400 million equity purchase agreement, bringing its potential financing capacity for SOL purchases to a total of $900 million.
In a previous Foresight News report from Chainwire, Classover Holdings announced that it has entered into an equity subscription agreement with Solana Strategies Holdings LLC. Under the agreement, the company will sell up to $400 million of Class B common stock. The proceeds from this equity subscription will be used to support the company's Solana-centric digital asset reserve strategy, as well as for working capital and strategic acquisitions.
