Metaplanet CEO Joins Forces with Multiple Parties to Acquire Korean Firm SGA, Advancing Asia’s Bitcoin Reserve Strategy

Odaily Planet Daily reported that Metaplanet CEO Simon Gerovich, together with institutions such as Sora Ventures and KCGI, has formed a consortium to acquire shares of Korean system integrator SGA through a private placement, further advancing the Bitcoin reserve strategy in Asia.
According to regulatory approval, SGA will issue more than 58 million new common shares to the consortium, raising approximately 34.5 billion KRW (about 25 million USD), with the new shares expected to be listed on September 24. Upon completion of the transaction, Asia Strategy Partners LLC will become the largest shareholder of SGA, while SGA’s management team will remain unchanged and control will transfer to the new investors. The new shares will be subject to a one-year lock-up period. (Decrypt)