Latest news with #ClassoverHoldings
Yahoo
5 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
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
08-04-2025
- Business
- Associated Press
Classover Developing Next-Gen AI Powered Tutoring Platform
Classover is training its AI tutor agents using a proprietary dataset of over 300,000 hours of real teacher-student interactions. The platform aims to deliver a 'Netflix for Learning' type of experience, offering students unlimited access to AI-led lessons anytime, anywhere, through a monthly subscription. With an American-first job creation model built on a network of hundreds of U.S.-based teachers and instructors, Classover supports local U.S. employment and maintains minimal exposure to tariffs or global supply chain risks. NEW YORK, NY / ACCESS Newswire / April 8, 2025 / Classover Holdings, Inc. (NASDAQ:KIDZ)(NASDAQ:KIDZW), a leader in live, interactive online learning operating through its wholly-owned subsidiary Class Over Inc. ('Classover'), announced today the development of a next-generation artificial intelligence (AI)-powered tutoring platform designed to make high-quality education more accessible, personalized, and affordable for students everywhere. The new service will offer unlimited access to AI agent-led lessons across a wide range of academic and enrichment subjects, available anytime through a simple monthly subscription. At the core of this innovation is a robust proprietary education dataset - over 300,000 hours of interactive teaching captured from real-time sessions between professional instructors and students. These live, human-to-human learning moments form the foundation for training Classover's AI tutor agents: intelligent, on-screen teaching assistants capable of guiding students through lessons with structure, clarity, and human-like interactivity. 'Just as AI companies train their models using massive social media datasets, we're using real teaching interactions to build AI tutors that actually know how to teach,' said Hui Luo, Chairwoman and Chief Executive Officer of Classover Holdings and Founder and CEO of Classover. 'We view this as the future of education: scalable, intelligent, and designed to support every student on their own learning path.' Students will be able to explore a vast library of AI-led lessons on demand-covering everything from algebra and science to creative writing, piano, and public speaking. The experience is designed to feel like joining a real, dynamic classroom-but on their own schedule, and at their own pace. As the global tutoring market continues to grow rapidly, traditional models remain expensive, inconsistent, or out of reach for many families. Classover's flat-fee subscription model seeks to break that barrier-making personalized, high-quality tutoring accessible to far more students than ever before. Classover's educational expertise is built on a network of hundreds of U.S.-based teachers and instructors who have delivered interactive live classes to students nationwide. This foundation not only provides high-quality data to train Classover's AI agents, but also supports local employment and ensures operational stability-with minimal exposure to tariffs or global supply chain disruptions. 'This is the next generation of innovative edtech,' said Luo. 'By combining world-class teaching data with AI technology, we're creating a platform that can scale globally-without sacrificing quality, care, or the human touch. Our mission is to help every student, no matter where they are, learn better.' Pilot programs for the new tutoring platform are expected to begin in late 2025 or early 2026, with full public launch expected in 2026. 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. 800-345-9588
