Classover closes initial tranche of $500M financing, doubles Solana holdings

Classover (KIDZ) Holdings announced the closing and funding of the initial $11M tranche under its previously announced $500M note financing with Solana (SOL) Growth Ventures. The $11M initial tranche is the first issuance under the $500M senior secured convertible note financing. The notes are convertible into Classover Class B common stock at an initial conversion price of $7.36 per share, subject to adjustment as provided in the notes. Under the terms of the financing agreement, approximately 80% of the net proceeds from the initial tranche will be allocated toward the purchase of Solana tokens, subject to certain terms and limitations. The Company has made additional purchases of SOL, increasing its total holdings to approximately 13,189 SOL – more than double the 6,472 SOL previously reported on June 2, 2025