Classover signs $500M convertible note deal for Solana reserve

The K-12 education company has up to $900 million to purchase Solana tokens.

Classover, a K-12 education company, has announced a move into crypto through the creation of a Solana reserve.

The company plans to issue up to $500 million in senior convertible notes, with 80% of the proceeds allocated to purchasing Solana (SOL). The move follows a growing pattern of companies expanding into crypto-related strategies along with their core businesses.

According to a June 2 announcement, Classover has already purchased 6,472 SOL worth approximately $1.1 million to start its reserve. The issuance of $500 million in convertible notes comes through a partnership with Solana Growth Ventures.

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