K Wave Media Inc. announced Anson Funds has entered into a convertible note agreement of $500 million to help support the company’s operations. Bitcoin Treasury Strategy The financing is a follow-up to an earlier standby equity agreement of $500 million with Bitcoin Strategic ReserveThe company now has a total capital of $1 billion.
K Wave issuing $15 Million in Senior Secured Convertible Notes and Warrants as part of Anson’s agreement. According to the agreement, at least 80 percent of net proceeds must be spent on Bitcoin. K Wave has confirmed that it already owns 88 BTC.
“We believe that this financing structure positions us to execute one of the most ambitious corporate Bitcoin accumulation strategies in the world,” Ted Kim is the CEO of K Wave Media. “Our objective is clear: to scale our holdings toward 10,000 Bitcoin as soon as possible while maintaining strong investor alignment and full transparency in treasury reporting.”
It is also expected that the Korean business will benefit from this strategy. “We actively explore innovative ways for global fans to engage with, consume, and even invest in our premium movies and dramas using Bitcoin,” Kim added.
Amin Nathoo is the CEO of Anson Funds. “We are excited to partner with K Wave and their impressive management team as they execute on both the K-content and Bitcoin treasury opportunities.”
This agreement permits the issuance of convertible notes and warrants up to $500,000,000, at a conversion price set at $4.40 for each share. The warrants are exercisable for $3.6616 and valid for five year. The notes will mature on July 20, 2027. Only in case of default, interest is accrued.
D. Boral Capital LLC served as exclusive placement agent.
K Wave Media was the first Nasdaq company to offer a combination of Korean content and a Nasdaq listing. Bitcoin treasury Model aimed at creating new forms of engagement.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
