PANews, July 14 - According to Decrypt, Metaplanet CEO Simon Gerovich has taken action earlier this month in Thailand and is pushing forward the Asian Bitcoin reserve strategy with a newly approved acquisition case of a South Korean listed company. The South Korean system integrator SGA primarily serves government and educational clients and has received regulatory approval to issue over 58 million new shares to a consortium led by Sora Ventures and KCGI, with Gerovich personally participating. On Monday, the South Korean Financial Services Commission and the exchange approved the issuance, and the investment firm Asia Strategy Partners LLC will become the largest shareholder of SGA. According to Korean regulatory documents, this move aims to 'quickly raise business funds.' The new shares will be listed on September 24. The raised amount of 34.5 billion won (approximately 25 million USD) will be used for operations and new business development. The management team of SGA will remain unchanged, but control will transfer to the new investors, who must comply with a one-year lock-up period.
