K Wave Media (KWM) announced that certain of its key shareholders, including co-founders, signed a formal agreement to contribute 6.24M of the Company’s ordinary shares to the Company’s treasury and lend, at no charge, an additional 1.55M ordinary shares to be held in the Company’s treasury. The combined 7.79M ordinary shares are worth approximately $25M, based on the market price of the shares as of October 15. The company continues its financial restructuring following the confirmation of the recently announced Galaxy Digital (GLXY) investment, and will accelerate the implementation of its core growth strategy, including the K-IP STO platform and BTC treasury plan.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KWM:
- K Wave Media Unveils Entertainment Tokenization Platform with Galaxy Digital Investment
- K Wave Media plans to launch entertainment tokenization platform
- K Wave Media’s Solaire Partners selected to manage $28M IPTV fund
- K Wave Media Acquires Rabbit Walk to Boost Revenue and Capabilities
- K Wave Media to acquire 55% stake in Rabbit Walk