US-listed company Classover plans to raise 500 million USD to establish a SOL enterprise strategic reserve

Foresight News reports that according to The Block, Nasdaq-listed edtech company Classover has signed a securities purchase agreement with Solana Growth Ventures LLC, planning to raise up to 500 million USD through the issuance of senior secured convertible notes, with up to 80% of the net proceeds to be used for purchasing $SOL, the native token of the Solana blockchain. Classover stated that the latest financing arrangement builds upon its previously announced 400 million USD equity purchase agreement, bringing its total potential financing capacity for purchasing $SOL to 900 million USD.