K Wave Media has reached a $500 million convertible bond protocol with Anson Funds, intending to use 80% for purchasing BTC.

On July 10, according to GlobeNewswire, K Wave Media Inc. (NASDAQ: KWM) announced today that it has reached a Convertible Bond agreement with Anson Funds, under which Anson will provide financing support of up to $500 million, and KWM commits to use at least 80% of the net proceeds to purchase Bitcoin (BTC). The first financing will be issued and sold to Anson Investments Master Fund, LP and Anson East Master Fund LP through a securities purchase agreement, amounting to a total of $15 million in senior secured Convertible Bonds and Warrants.

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