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Metaplanet CEO joins forces to acquire Korean company SGA to advance Bitcoin reserve strategy in Asia
Odaily News Metaplanet CEO Simon Gerovich has formed a consortium with Sora Ventures, KCGI and other institutions to acquire shares of South Korean system integrator SGA through a private placement to further promote Asias Bitcoin reserve strategy.
According to regulatory approval, SGA will issue more than 58 million common shares to the consortium, raising approximately 34.5 billion won (approximately 25 million US dollars), and the new shares are expected to be listed on September 24. After the transaction is completed, Asia Strategy Partners LLC will become SGAs largest shareholder, SGAs management will remain unchanged, control will be transferred to the new investor, and the new shares will be subject to a one-year lock-up period. (Decrypt)
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