K Wave Media Reaches $500 Million Convertible Bond Agreement with Anson Funds, Plans to Use 80% to Purchase BTC

On July 10 (UTC+8), K Wave Media Inc. (Nasdaq: KWM) announced today that it has reached a convertible bond agreement with Anson Funds, under which Anson will provide financing support of up to $500 million, and KWM has committed to use at least 80% of the net proceeds to purchase Bitcoin ($BTC). The first financing will be issued and sold to Anson Investments Master Fund, LP and Anson East Master Fund LP through a securities purchase agreement for a total of $15.000 million in senior secured convertible bonds and warrants. (Source: Bitpush) [MetaEra]