K Wave Media (NASDAQ: KWM) Secures $1 Billion Capital Capacity To Drive Bitcoin Treasury Strategy; Announces $500 M Convertible Note With Anson Funds

NEW YORK and SEOUL, South Korea, July 11 (Bernama) -- K Wave Media Inc. (Nasdaq: KWM) (“K Wave” or the “Company”), the first Nasdaq-listed public company to integrate Korean cultural content with a Bitcoin-focused corporate treasury model, today announced entering into a convertible note agreement with Anson Funds where Anson agreed to provide up to $500 million in financing under which KWM will allocate minimum 80% of the net proceeds toward purchase of BTC. The first tranche will be the issuance and sale of $15 million in senior secured convertible notes and warrants to Anson Investments Master Fund, LP, and Anson East Master Fund LP pursuant to a securities purchase agreement.

This follows the previously announced $500 million Standby Equity Purchase Agreement (SEPA) with Bitcoin Strategic Reserve, bringing the Company’s total capital capacity for its treasury initiative to $1 billion.