TechFlow news, June 4 — According to Businessinsider, K Wave Media, Inc. (Nasdaq: KWM), the first South Korean media company listed on Nasdaq, announced it has signed a securities purchase agreement with Bitcoin Strategic Reserve KWM LLC to sell up to $500 million in ordinary shares. The company plans to use the proceeds to support its digital asset strategy centered on Bitcoin (BTC), as well as for working capital and mergers and acquisitions.
According to the announcement, K Wave Media will allocate the majority of the funds toward purchasing, long-term holding, and yield optimization of Bitcoin, while also planning to operate Bitcoin Lightning Network nodes and invest in Bitcoin-native infrastructure. Additionally, the company will enable consumers to purchase its content and K-pop merchandise using BTC within Web3 environments.
