K Wave Media secures $1 billion in funding to advance Bitcoin strategy, has purchased 88 Bitcoin
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K Wave Media secures $1 billion in funding to advance Bitcoin strategy, has purchased 88 Bitcoin
According to GlobeNewswire, K Wave Media (Nasdaq: KWM) today announced a $500 million convertible note agreement with Anson Funds, in addition to its previous $500 million standby equity purchase agreement with Bitcoin Strategic Reserve, bringing its total capital capacity to $1 billion. The company has completed the purchase of its first batch of 88 bitcoins and plans to allocate at least 80% of the net proceeds from financing toward bitcoin acquisitions, aiming to scale up to 10,000 bitcoins as quickly as possible.
Navigating Web3 tides with focused insightsTechFlow news, July 10 — According to GlobeNewswire, K Wave Media (Nasdaq: KWM) today announced a $500 million convertible note agreement with Anson Funds. Combined with its previous $500 million standby equity purchase agreement with Bitcoin Strategic Reserve, this brings the company's total capital capacity to $1 billion. The company has completed the purchase of its first batch of 88 bitcoins and plans to allocate at least 80% of the net proceeds from financing toward bitcoin acquisitions, aiming to scale up to 10,000 bitcoins as quickly as possible.
