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.
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