Edtech company Classover Holdings Inc., valued at $63 million, has secured a significant funding deal worth $500 million with Solana Growth Ventures LLC. This agreement will see Classover issue convertible senior notes, boosting its Solana (SOL)-based treasury reserve to support short-term liquidity challenges. 💰 The initial payment of $11 million will be made upon meeting standard closing conditions, according to reports from Investing.com. 📈 Crucially, the notes can be converted into Classover’s Class B common stock at a rate twice the price before the deal is completed. Additionally, Classover must use up to 80% of the funding to buy SOL tokens, demonstrating its commitment to building a strong Solana presence. 🌐 This follows an earlier $400 million equity agreement, giving Classover a potential investment capacity of up to $900 million in Solana. 💰 2023 has been challenging for Classover. Revenue dropped by 102% last year, and its financial health is currently weak. This funding comes as a crucial step towards strengthening their finances and integrating Solana into their core operations. 💡 CEO Ms. Luo emphasizes the significance of this milestone, showcasing Classover’s ambitions to leverage blockchain technology for future growth. The deal is being managed by Chardan as the sole financial advisor and placement agent. 🚀