TechFlow news, June 3 — According to The Block, Classover, an education technology company listed on Nasdaq, announced that it has entered into a securities purchase agreement with Solana Growth Ventures LLC to raise up to $500 million through the issuance of senior secured convertible notes. The company plans to allocate up to 80% of the net proceeds toward purchasing SOL, the native token of the Solana blockchain.
Stephanie Luo, CEO of Classover, said the move marks a significant milestone in the company's strategic initiative to build a corporate treasury based on SOL. Following the announcement, Classover's stock surged 39.85% on Monday, closing at $3.72 on Nasdaq.
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