Metaplanet CEO Leads Consortium to Acquire Shares in Korean Firm SGA

According to Odaily, Metaplanet CEO Simon Gerovich, along with institutions such as Sora Ventures and KCGI, has formed a consortium to acquire shares in the Korean system integrator SGA through a directed share issuance. This move aims to advance the Asian Bitcoin reserve strategy. Following regulatory approval, SGA will issue over 58 million ordinary shares to the consortium, raising approximately 34.5 billion Korean won (around 25 million USD). The new shares are expected to be listed on September 24. Upon completion of the transaction, Asia Strategy Partners LLC will become the largest shareholder of SGA, while the current management will remain unchanged. Control will shift to the new investors, and the newly issued shares will have a one-year lock-up period.