PANews June 4 news, according to Business Insider, the first Korean media alliance on NASDAQ, K Wave Media Inc. (NASDAQ code: KWM), announced today that it has reached a securities purchase agreement with Bitcoin Strategic Reserve KWM LLC. The company will issue $500 million in common stock through this mechanism. The proceeds from this financing will be used to support the company's bitcoin-centric digital asset reserve strategy, working capital, and M&A activities, further expanding its content production and K-POP-related business. Under this strategic framework, K Wave will use most of the financing proceeds for the long-term holding and yield optimization of bitcoin under specific restrictive conditions — making it one of the first publicly listed media companies in the world to directly incorporate BTC into its core capital management.
