Okay Wave Media Inc. has introduced a $500 million convertible observe settlement with Anson Funds to assist its Bitcoin treasury technique. This financing follows an earlier $500 million standby fairness buy settlement with Bitcoin Strategic Reserve, bringing the corporate’s whole capital capability to $1 billion.
As a part of the Anson settlement, Okay Wave will situation $15 million in senior secured convertible notes and warrants within the first tranche. Beneath the phrases of the deal, no less than 80% of the online proceeds will likely be used to buy Bitcoin. Okay Wave confirmed it has already acquired 88 BTC.
“We believe that this financing structure positions us to execute one of the most ambitious corporate Bitcoin accumulation strategies in the world,” mentioned Ted Kim, CEO of Okay Wave Media. “Our objective is clear: to scale our holdings toward 10,000 Bitcoin as soon as possible while maintaining strong investor alignment and full transparency in treasury reporting.”
The corporate additionally expects its Korean content material enterprise to learn from the technique. “We actively explore innovative ways for global fans to engage with, consume, and even invest in our premium movies and dramas using Bitcoin,” Kim added.
Amin Nathoo, CEO of Anson Funds, acknowledged: “We are excited to partner with K Wave and their impressive management team as they execute on both the K-content and Bitcoin treasury opportunities.”
The settlement permits for the potential issuance of as much as $500 million in convertible notes and warrants, with conversion pricing set at $4.40 per share. The warrants, exercisable at $3.6616, are legitimate for 5 years. The notes mature in July 2027 and solely accrue curiosity within the occasion of default.
D. Boral Capital LLC acted because the unique placement agent for the providing.
Okay Wave Media is the primary Nasdaq-listed firm to mix Korean cultural content material with a Bitcoin treasury mannequin, aiming to create new types of engagement.
