Latest news with #Classover
Yahoo
4 days ago
- Business
- Yahoo
Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
Classover Holdings (KIDZ), a publicly traded online education company, has revealed it's making a big bet on solana SOL. The company said in a press release that it entered a new agreement to sell up to $500 million in senior secured convertible notes, aiming to use most of the proceeds to build a treasury of SOL tokens. The agreement, made with Solana Growth Ventures , allows for an initial $11 million funding round. Classover plans to allocate up to 80% of the net proceeds from the notes toward SOL purchases. These notes can be converted into Class B shares at double the stock's trading price prior to closing, with adjustment clauses baked in. It's worth noting that other firms, including Defi Development Corp., are also doubling down on their SOL treasury initiatives. Classover's move builds on its earlier acquisition of 6,472 SOL, for roughly $1.05 million, marking the beginning of its solana accumulation strategy.
Yahoo
5 days ago
- Business
- Yahoo
Classover completes initial Solana purchase, enter new purchase agreement
Classover (KIDZ) Holdings entered into a securities purchase agreement with Solana Growth Ventures for the issuance of up to $500 million in senior secured convertible notes, advancing its strategic initiative to build a Solana-based treasury reserve. The securities purchase agreement provides for the issuance of up to $500 million in senior secured convertible notes. An initial closing and funding of $11 million is expected to occur promptly after customary closing conditions have been satisfied. The notes may be converted by the holder into the Company's Class B common stock at an initial conversion price equal to 200% of the closing price of the Company's Class B common stock on the trading day immediately prior to the closing date, subject to adjustment as provided for in the notes. Under the agreement, Classover is required to allocate up to 80% of the net proceeds toward purchases of SOL, subject to certain terms and limitations. This new agreement complements Classover's previously announced $400 million equity purchase agreement, increasing the Company's total potential financing capacity to $900 million, dedicated to supporting its SOL acquisition strategy. Prior to this agreement, Classover had already initiated its SOL reserve strategy, having purchased 6,472 SOL for approximately $1.05 million – marking the first step in its long-term strategy to acquire, hold, and stake Solana tokens. The Company is also exploring opportunities for acquiring discounted blocks of locked tokens, as part of its broader accumulation and treasury strategy. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on KIDZ: Disclaimer & DisclosureReport an Issue Six new option listings on May 29th Classover Holdings Extends Registration Deadlines Agreement Classover files ot sell 17.25M shares of Class B common stock Classover Holdings Inc trading resumes Classover Holdings Inc trading halted, volatility trading pause Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Penny Stocks Attempt to Ride Crypto's Coattails
Education tech firm Classover Holdings (KIDZ) said in early May that it would sell $400 million worth of shares to buy solana. Its stock exploded higher. Shares of the thinly traded company, then with a market cap well shy of $50 million soared from $1.15 to more than $7 in just two sessions before settling back to the current $3.69. . Classover wasn't the first company to experience the crypto surge, and it won't be the last. A growing number of obscure, microcap and nanocap companies are embracing cryptocurrency — not as a business line or payment method, but as a headline-grabbing balance sheet item. They often follow the same script: an announcement of a shift in strategy to hold digital assets like bitcoin or solana, followed by a pop in the stock price. Today, GD Culture Group (GDC), a company with a market cap of around $30 million, announced plans to sell up to $300 million in shares to buy bitcoin and TrumpCoin (TRUMP), a meme token themed around U.S. President Donald Trump. The company declared that this purchase was part of its new 'crypto asset treasury strategy.' The stock rose 13% on the news. Also today, Amber International Holdings (AMBR), valued at just under $900 million, said it would allocate $100 million to a basket of cryptocurrencies, including bitcoin, ethereum ETH, solana, XRP, Binance Coin BNB and sui SUI. All are attempting to mimic the original corporate crypto evangelist: Strategy (MSTR). In August 2020, the enterprise-software company pivoted to using bitcoin as its primary treasury reserve asset. Since then, its stock has soared more than 3,000%, fueled not by software sales or product innovation, but the price of bitcoin. Many retail investors now treat the stock as a proxy for bitcoin exposure. But while Strategy had a longstanding business and a consistent, transparent strategy — in addition to its chairman, Michael Saylor, emerging early as a bitcoin proponent — these newer companies appear to be leveraging the crypto hype machine with little track record or follow-through. Take Worksport, a Nasdaq-listed manufacturer of truck bed covers. Last year, the company announced plans to invest its cash reserves into bitcoin and XRP. Its stock, which had been sliding for years, jumped after the announcement. But the rally didn't last, and the stock has since returned to pre-announcement levels. The company said in April that it had made a six figure initial purchase. 'We are still bullish on our initial positions and have been holding. We will consider adding in the future as appropriate,' a spokesperson told CoinDesk at the time. The playbook seems straightforward: Find a buzzy crypto token, announce a purchase or strategic allocation, then ride the temporary surge in retail investor attention. In many cases, the amount the company plans to invest vastly exceeds its own market capitalization. That was true for Classover and GD Culture, both of which proposed multi-hundred-million-dollar allocations despite being worth a fraction of that. It's unclear whether these companies will actually make their proposed purchases or how they plan to raise the funds. But the market's reaction points to a pattern: Microcap firms are using crypto as a megaphone. Still, the tactic is proving effective in the short term. As long as the market rewards crypto-related headlines with stock rallies, small companies are likely to continue jumping on the bandwagon. Whether any of them become long-term crypto believers like Strategy remains to be seen. There are, however, some firms that appear to be taking the Strategy route more seriously — and seeing results. Japanese investment firm Metaplanet has steadily grown its bitcoin holdings to 6,796 since launching its Bitcoin Treasury Operations in April 2024, positioning itself as one of the more committed corporate holders in Asia. Similarly, U.S.-based medical device company Semler Scientific has been buying bitcoin consistently since adopting it as a reserve asset. It now holds 3,634 BTC on its balance sheet, reflecting a strategy that mirrors MicroStrategy's playbook rather than simply borrowing its headlines. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Associated Press
01-05-2025
- Business
- Associated Press
Mercurity Fintech's Chaince Securities Appointed as Strategic Advisor for Classover's Solana-Focused Treasury Strategy
New York, NY, May 01, 2025 (GLOBE NEWSWIRE) -- Mercurity Fintech Holding Inc. (the 'Company,' 'we,' 'us,' 'our company,' or 'MFH') (Nasdaq: MFH), a digital fintech group, today announced that Classover Holdings Inc. (Nasdaq: KIDZ, KIDZW) has appointed its wholly owned subsidiary, Chaince Securities, LLC ('Chaince Securities'), as strategic digital asset advisor to guide Classover's new Solana-based (SOL) treasury initiative. Classover, a leader in live, interactive online learning, plans to allocate a significant portion of the proceeds toward acquiring, staking, and holding Solana (SOL) tokens as a core corporate reserve asset. The Company also intends to operate SOL validator nodes, reinforcing its commitment to decentralized infrastructure and blockchain integration. As Classover's strategic advisor, Chaince Securities will provide comprehensive digital asset services, including: Wilfred Daye, Chief Strategy Officer of MFH and CEO of Chaince Securities, LLC, commented, 'Classover's adoption of Solana as a treasury reserve asset sets a new standard for corporate blockchain strategy. We are proud to partner with Classover on this landmark initiative and help position them at the forefront of institutional blockchain adoption. For Chaince, this partnership proves what we've been saying all along - traditional companies are ready for crypto treasury strategies when done right. And frankly, this could not come at a better time for MFH as we expand our institutional services. Each corporate client like Classover helps us refine our playbook and strengthens our reputation as the go-to team for companies making their first serious move into digital assets.' Stephanie Luo, Chief Executive Officer of Classover, added, 'At Classover, innovation is at the core of everything we do — whether in education or corporate finance. By anchoring our treasury in Solana, we embrace technology that enhances our agility and future-proofs our balance sheet. We believe this strategy strengthens our financial foundation and positions Classover as a pioneer in blockchain integration among publicly traded companies, creating meaningful long-term value for our shareholders.' About Mercurity Fintech Holding Inc. Mercurity Fintech Holding Inc. is a digital fintech company with subsidiaries specializing in distributed computing and digital consultation across North America and the Asia-Pacific region. Our focus is on delivering innovative financial solutions while adhering to principles of compliance, professionalism, and operational efficiency. Our aim is to contribute to the evolution of digital finance by providing secure and innovative financial services to individuals and businesses. And our dedication to compliance, professionalism, and operational excellence ensures that we remain a trusted partner in the rapidly transforming financial landscape. For more information, please visit the Company's website at About Chaince Securities, LLC Chaince Securities, LLC (CRD #10590) is a FINRA-registered broker-dealer founded in 1982 and based in New York City. We specialize in equity capital markets, investment banking, asset management, and innovative financial solutions. With decades of institutional experience, Chaince is dedicated to building long-term relationships and delivering tailored strategies to meet the unique goals of each client. We combine traditional expertise with a forward-looking approach to support growth across dynamic sectors including digital assets and AI-driven markets. About Classover Founded in 2020 and headquartered in New York, Classover has rapidly emerged as a leader in educational technology, specializing in live online courses for K-12 students worldwide. Offering a diverse curriculum tailored to different learning levels and interests, Classover empowers students through personalized instruction, innovative course design, and cutting-edge AI technology. From creativity-driven programs to competitive test preparation, Classover is dedicated to redefining education through accessible, high-quality learning experiences. Forward-Looking Statements This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to' or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Contacts: International Elite Capital Inc. Vicky Chueng Tel: +1(646) 866-7928 Email: [email protected] Chaince Securities, LLC Email: [email protected] Classover Holdings Inc. Email: [email protected] Tel: 800-345-9588
Associated Press
14-04-2025
- Business
- Associated Press
Classover Secures U.S. Trademark from USPTO, Seeks to Accelerate IP and AI Expansion Through Strategic Acquisitions
NEW YORK, NY / ACCESS Newswire / April 14, 2025 / Classover Holdings, Inc. (the 'Company') (Nasdaq:KIDZ, KIDZW), a leader in live, interactive online learning through its wholly-owned subsidiary Class Over Inc. ('Classover'), announced today that it has received official trademark registration for the 'Classover' mark from the United States Patent and Trademark Office (USPTO). This federal registration strengthens the Company's brand protection across a wide range of educational and digital learning services and underscores its leadership in the development of next-generation AI tutoring platforms. With this trademark now secured, Classover is accelerating efforts to expand its intellectual property portfolio and strengthen its AI capabilities through a targeted acquisition strategy. The Company is actively pursuing opportunities to acquire: Classover currently holds a proprietary dataset comprising over 300,000 hours of live, instructor-led teaching sessions. This dataset serves as the foundation for training the Company's AI tutor agents-intelligent systems designed to deliver human-like instruction through adaptive pacing, interactive guidance, and real-time feedback. The Company's AI-powered tutoring platform is currently in development and is currently planned for a public launch in 2026. By acquiring additional datasets and IP assets, Classover aims to enhance the accuracy, adaptability, and subject coverage of its AI agents-enabling broader applications across grade levels, disciplines, and learner demographics, both in the U.S. and internationally. As part of its broader growth roadmap, Classover's acquisition strategy is also intended to: With a secured brand identity and a focused expansion strategy, Classover seeks to lead the transformation of digital education through scalable, AI-powered learning experiences. About Classover Founded in 2020 and headquartered in New York, Classover has rapidly emerged as a leader in educational technology, specializing in live online courses for K-12 students worldwide. Offering a diverse curriculum tailored to different learning levels and interests, Classover empowers students through personalized instruction, innovative course design, and cutting-edge AI technology. From creativity-driven programs to competitive test preparation, Classover is dedicated to redefining education through accessible, high-quality learning experiences. Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on Classover's current beliefs, expectations and assumptions regarding the future of Classover's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Classover's control including, but not limited to: the ability of Classover to achieve the anticipated benefits of its recently completed business combination with Battery Future Acquisition Corp. ('BFAC'); Classover's inability to maintain the listing of its securities on Nasdaq following the business combination; Classover's ability to execute its business model, including obtaining market acceptance of its products and services; Classover's financial and business performance, including financial projections and business metrics and any underlying assumptions thereunder; changes in Classover's strategy, future operations, financial position, estimated revenue and losses, projected costs, prospects and plans; Classover's ability to attract and retain a large number of customers; Classover's future capital requirements and sources and uses of cash; Classover's ability to attract and retain key personnel; Classover's expectations regarding its ability to obtain and maintain intellectual property protection and not infringe on the rights of others; changes in applicable laws or regulations; and the possibility that Classover may be adversely affected by other economic, business, and/or competitive factors. These risks and uncertainties also include those risks and uncertainties indicated in the definitive proxy statement/prospectus included in the Registration Statement on Form S-4 filed by Classover Holdings, Inc. in connection with its business combination with BFAC. Classover's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by Classover in this press release is based only on information currently available to Classover and speaks only as of the date on which it is made. Classover undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Contacts: Class Over IR Team [email protected] 800-345-9588 SOURCE: Classover Holdings, Inc. press release
