Metaplanet CEO Joins Forces to Acquire South Korean Company SGA, Advancing Asian Bitcoin Reserve Strategy
Powered by ChatGPTMetaplanet CEO Simon Gerovich, along with a consortium including Sora Ventures and KCGI, will acquire shares of Korean system integrator SGA through a private placement, further advancing the Asian Bitcoin reserve strategy. According to regulatory approvals, SGA will issue over 58.00 million new common shares to the consortium, raising approximately 34.50 billion Korean won (approximately $25.00 million). The new shares are expected to be listed on September 24. Upon completion of the transaction, Asia Strategy Partners LLC will become the largest shareholder of SGA, SGA's management will remain unchanged, control will be transferred to the new investors, and the new shares will be subject to a one-year lock-up period. (Decrypt) [Odaily Planet Daily News]