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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.
With execution underway, KWM has completed its initial acquisition of "88" BTC. "88", widely regarded as a symbol of fortune and success in Asian culture, demonstrates firm conviction in Bitcoin as a superior long-term investment. The Company intends to scale its holdings of Bitcoin aggressively and transparently, aligning itself with the monetary principles of Bitcoin and the growing global movement of on-chain corporate reserves.
"We believe that this financing structure positions us to execute one of the most ambitious corporate Bitcoin accumulation strategies in the world," said Ted Kim, 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. At the same time, our existing K-content businesses stand to benefit from this BTC-driven treasury strategy as we actively explore innovative ways for global fans to engage with, consume, and even invest in our premium movies and dramas using Bitcoin."
Amin Nathoo, CEO of Anson, said, "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."
KWM's model combines capital markets sophistication with cultural resonance. By anchoring Bitcoin to a forward-looking media platform, the Company aims to create new pathways for investor participation and global engagement and be a leader in the Web3 economy.
Posted In: KWM
