K Wave Media Secures $1 billion in Funding to Advance Bitcoin Strategy, Has Already Purchased 88 Bitcoins

On July 10, GlobeNewswire reported that K Wave Media (Nasdaq: KWM) announced today that it has entered into a $500 million convertible note agreement with Anson Funds, which, together with the previously reached $500 million standby equity purchase agreement with Bitcoin Strategic Reserve, brings its total capital capacity to $1.0 billion. The company has completed the first purchase of 88 Bitcoins and plans to use at least 80% of the net proceeds from the financing for Bitcoin acquisitions, with the goal of expanding to 10,000 Bitcoins as soon as possible. [Deep Tide TechFlow]