K Wave Media Inc. has announced a $500 million convertible note agreement with Anson Funds to support its Bitcoin treasury strategy. This financing follows an earlier $500 million standby equity purchase agreement with Bitcoin Strategic Reserve, bringing the company’s total capital capacity to $1 billion.

As part of the Anson agreement, K Wave will issue $15 million in senior secured convertible notes and warrants in the first tranche. Under the terms of the deal, at least 80% of the net proceeds will be used to purchase Bitcoin. K Wave confirmed it has already acquired 88 BTC. 

“We believe that this financing structure positions us to execute one of the most ambitious…

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