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K Wave Media sells $500 million in common stock, with the funds used to support Bitcoin financial strategies.
Golden Finance reports that K Wave Media (KWM), a South Korean media company listed on Nasdaq, has announced that it has signed a protocol with Bitcoin Strategic Reserve KWM LLC to raise up to $500 million by selling common stock. The proceeds will be used to advance the Bitcoin-centric corporate asset strategy, working capital, and merger expansion. KWM stated that it will emulate the model of Japan's Metaplanet Inc. to become the "Korean version of Metaplanet."