K Wave Media and Anson Funds have reached a $500 million convertible bond agreement, with 80% intended for the purchase of BTC

BlockBeats news, July 10th, 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 up to $500 million in financing support, and KWM has committed to using at least 80% of its net proceeds to purchase Bitcoin (BTC). The first round of financing will involve the issuance and sale of senior secured convertible bonds and warrants totaling $15 million to Anson Investments Master Fund, LP and Anson East Master Fund LP through a securities purchase agreement.