K Wave Media, a Korean media alliance, intends to offer $500 million of common stock to support the Bitcoin strategic reserve

PANews reported on June 4 that K Wave Media Inc. (NASDAQ: KWM), the first Korean media alliance on the NASDAQ, today announced that it has entered into a securities purchase agreement with Bitcoin Strategic Reserve KWM LLC, through which the company will sell $500 million of common stock. Proceeds from the financing will be used to support the company's Bitcoin-centric digital asset reserve strategy, working capital, and M&A activities, as well as further expand its content production and K-POP-related businesses. According to the strategic framework, K Wave will use the majority of the proceeds of the financing for the long-term holding and yield optimization of bitcoin under certain restrictions – making it one of the first listed media companies in the world to directly integrate BTC into core fund management.

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