ConvertibleActive
3% Convertible Notes due 2027
KWM-PIPE1
BTC Holdings
88 BTC
Total Debt
$19.04M
Leverage
304.0%
mNAV
5.26x
Outstanding
$2.25M
Issue date
2024-06-04
Principal
$3.75M
Coupon
3.00%
Maturity
2027-06-04
Conversion price
$4
- Variable conversion: 60% discount to 5-day VWAP, floor $4/share
- Series 1 ($2.25M) and Series 2 ($1.5M); Series 2 fully converted Jun 2025
- Issued by K Enter Holdings pre-SPAC; assumed by K Wave Media upon business combination May 2025
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Shares
- Rate type
- Fixed
Sources(1)
- Form 6-K (Interim Financi…FilingForm 6-K (Interim Financial Results H1 2025)Note 19K Wave Media Ltd. — 2026-02-20
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-06-30 | Conversion | $2.25M Series 2 ($1.5M) fully converted Jun 2025 | Form 6-K (Interim Financi… |
| 2024-06-04 | Issuance | $3.75M Aggregate of Series 1 ($2.25M) and Series 2 ($1.5M) | Form 6-K (Interim Financi… |
- 2025-06-30 — $2,250,000Note 19 — filing — K Wave Media Ltd.Source
- 2024-06-04 — $3,750,000Note 19 — filing — K Wave Media Ltd.Source