The Solana (SOL) wind at Nasdaq: Another company announced it.

The technology company Classover Holdings Inc., traded on Nasdaq, announced that it plans to secure up to $500 million in new financing as part of its Solana (SOL)-based treasury creation strategy.

The company announced that it has signed a securities purchase agreement involving a secured convertible bond issuance with Solana Growth Ventures LLC.

According to the terms of the agreement, up to 80% of the net income generated will be used directly for the purchase of SOL. This new financing arrangement is built on top of the previously announced $400 million share buyback agreement and raises Classover’s total financing capacity to $900 million.

Classover CEO Stephanie Luo stated, “This agreement is a significant milestone in our strategic initiative to create a SOL-based treasury. With this step, Classover reaffirms its commitment to being a leader in blockchain-compatible financial strategies and one of the first publicly traded companies to integrate SOL directly into treasury operations.”

Following the announcement, Classover shares rose by 39.85% to $3.72 on the Nasdaq stock exchange. However, in after-hours trading, the share price fell by 1.88%.

The company announced that it aimed to strengthen its balance sheet with high-performance and scalable digital assets by launching its SOL treasury strategy last month.

Classover Holdings (KIDZ) shares closed the last trading day at a level of 3.56 dollars.

Published: June 3, 2025 13:09