US-listed company K Wave Media secures $1 billion in funding to advance Bitcoin strategy, has acquired 88 Bitcoins
According to ChainCatcher, as reported by GlobeNewswire, K Wave Media (NASDAQ: KWM) announced today that it has signed a $500 million convertible note agreement with Anson Funds. Combined with the previously established $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 its initial purchase of 88 bitcoins and plans to allocate at least 80% of the net proceeds from financing to bitcoin acquisitions, aiming to rapidly expand its holdings to 10,000 bitcoins.
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