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Nasdaq-listed tech firm Classover Holdings has supercharged the Solana community after SOL’s sluggish performance last week.
Monday’s official announcement confirmed that Classover and Solana Growth Ventures entered a securities purchase agreement to raise $500 million in secured convertible notes.
NASDAQ: KIDZW Update: New Solana Treasury Strategy corporation SOLANA GROWTH VENTURES – currently trading as Classover Completes Initial $SOL Purchase and Enters into New Purchase Agreement to Sell up to $500 Million of Notes to Accelerate SOL Treasury Strategy Ms. Luo, Chief
Notably, Classover Holdings will commit 80% of the total proceeds to buy SOL, building on its initiative to launch a Solana treasury reserve.
The announcement stated.
Under the agreement, Classover is required to allocate up to 80% of the net proceeds toward purchases of SOL (Solana), subject to certain terms and limitations.
The NY-headquartered firm expects an initial funding of $11 million soon after satisfying customary closing terms.
Meanwhile, the latest announcement comes after Classover’s previous $400 million equity purchase agreement.
That means the company boasts $900 million to finance its Solana acquisition strategy.
The substantial investment underscores the firm’s dedication to asset diversification.
Digital assets prove lucrative for most institutions, especially after the United States established a strategic Bitcoin reserve in March 2025.
Why Solana?
Selecting Solana over millions of altcoins remains significant.
The project has gained traction due to its friendly costs and speed, making it suitable for scalable applications like NFTs, DeFi, and gaming.
Moreover, Solana is also attracting institutional players.
Last week, Dev Corp announced plans to integrate the LST (liquid staking token) technology to bolster and diversify its Solana treasury.
1/ We’re making history, yet again! 🚨 Today, $DFDV becomes the FIRST publicly traded company to adopt Liquid Staking Token (LST) technology on #Solana. We’re announcing the dfdvSOL LST built by @sanctumso! New revenue stream unlocked? ✅ SPS growth potential? ✅
Moreover, SOL Strategies seeks to raise $1 billion in the next two years via common shares, warrants, and securities issuance.
Such developments likely explain why Classover tapped Solana to strengthen its financial framework.
Understanding convertible notes
Secured convertible notes give investors security (through the company’s assets). Investors can utilize these financial instruments to convert debt into equity.
The model benefits both participants. In this case, Classover will enjoy immediate funding, whereas investors retain potential returns if the stock soars.
Meanwhile, Classover will coordinate with Solana Growth Ventures to issue the convertible notes.
The strategic alliance will likely bolster investor confidence in the firm’s financial structure and its crypto-based strategy.
SOL price outlook
The alt gained over 2% in the past 24 hours to trade at $160.
Chart by CoinamrketcapSolana has declined significantly from mid-January highs of above $195. However, it seems poised for recovery.
SOL’s price chart illustrates an emerging bullish structure after prolonged consolidations.
The alt tests the crucial support at $160. Closing above this foothold could trigger short-term rallies.
Solana bulls will target the key region at $185 before extending to $190.
Amplified buyer activity could extend the upside to the supply region at $200 – $200.
However, failure to keep the $160 foothold will delay SOL’s recovery.
You can anticipate short-term dips to the nearest support level at $155.
A revisit and breach of $140 – $145 will invalidate Solana’s prevailing bullish outlook.
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