Classover Holdings, Inc., an educational technology company that is quoted at Nasdaq, will issue up to 500 million dollars in convertible senior bonds guaranteed to finance a strategic Solana (Sun) reserve.
Of net income, 80% are will allocate to the purchase of this cryptocurrency, following A strategy inspired by Michael Saylor’s model (Strategy CEO), but replacing bitcoin (BTC) by sun.
The agreement, signed with Solana Growth Ventures LLC, contemplates an initial closure of 11 million dollars, subject to usual financing conditions. The bonds may become ordinary class B shares of Classover at an initial price equivalent to 200% of the closing value of the shares the day prior to closing, with adjustments according to the established terms.
This issuance adds to a previous agreement to buy shares for 400 million dollars, raising the total financing capacity of the company to 900 million dollars.
Classover had already started her treasury strategy in Solana before this announcement. The company acquired 6,472 Sol for approximately 1.05 million dollars, a first step in its long -term plan to accumulate tokens of this network. In addition, the company explores the purchase of discount blocked tokens blocks, seeking to optimize your accumulation strategy.
Hui Luo, Executive Director of Classover, stressed that this agreement “reinforces Classover’s commitment to lead in financial strategies based on decentralized networks”, integrating sun directly into its treasury operations.
Classover’s decision reflects an emerging trend between public companies that seek to diversify their reserves with cryptocurrencies. Inspired by Michael Saylor’s strategy, who turned Microstrategy (now Strategy) into a reference in Bitcoin investment, Classover adapts this approach to Solana, a network known for its high speed and low transaction costs.
With this emission of convertible bonds classover acquires financial flexibility. The holders of the promissory notes can convert their investment into shares of the company, which could attract interested investors both in the growth of the company and their commitment to sun. The structure of the agreement, which forces to allocate most funds to the purchase of Solanaensures that the treasury strategy remains focused on cryptocurrency.
However, the strategy is not exempt from risks. The volatility of cryptocurrencies, including sun, It raises challenges for companies that make up these assets in their balances. However, Solana still has fuel to continue increasing price this year. In fact, there are those who estimate that this Altcoin will reach 300 dollars in this cycle, as reported by cryptoics.
