Classover (KIDZ) entered into an equity purchase facility agreement with Solana Strategies Holdings LLC, under which the company will sell up to $400 million of its class B common stock to Solana Strategies.
The company said Thursday that it plans to use the facility proceeds for its Solana (SOL-USD)-centric digital asset treasury strategy as well as for working capital and strategic acquisitions.
Classover said it will allocate a significant portion of the proceeds to the purchasing, long-term holding and staking of Solana tokens.
The educational technology company also plans to operate SOL validator nodes to contribute to the network's decentralization and security while generating on-chain staking rewards.
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