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Metaplanet CEO joins in a longer acquisition of the Korean company SGA to advance the Asian Bitcoin reserve strategy.
Odaily News Metaplanet CEO Simon Gerovich, along with institutions such as Sora Ventures and KCGI, has formed a consortium to acquire shares of the South Korean system integrator SGA through a private placement, further promoting the Asian 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 (about 25 million USD), with the new shares expected to be listed on September 24. After the transaction is completed, Asia Strategy Partners LLC will become the largest shareholder of SGA, while SGA’s management will remain unchanged, and control will transfer to the new investors. The new shares will have a one-year lock-up period. (Decrypt)