Jul 10, 12:38 PM

Nasdaq’s K Wave Media Raises $1 Billion for 10,000-Bitcoin Treasury Plan

K Wave Media, a South Korean entertainment firm listed on Nasdaq, said on Thursday that it has secured $1 billion in financing to back a new bitcoin treasury strategy. The company has already spent about $15 million on initial bitcoin purchases and aims to expand its holdings to as much as 10,000 BTC. The funding package includes up to $500 million from Anson Funds through a convertible-note agreement, with the first tranche involving the sale of 1,500 notes to Anson Investments Master Fund and Anson East Master Fund. K Wave Media’s plan follows a similar move earlier this week by Nasdaq-listed semiconductor designer Sequans Communications, which disclosed that it bought $41 million in bitcoin after raising roughly $384 million with the goal of accumulating around 3,000 BTC. The two transactions highlight accelerating corporate interest in adding the cryptocurrency to balance sheets.

#South Korean #Nasdaq #Anson Funds #Anson Investments Master Fund #Anson East Master Fund #Sequans Communications

Written with ChatGPT .