Sora, AsiaStrategy, Metaplanet, and KCGI Join Forces to Acquire Korean Company SGA
Foresight News reports that SGA, a KOSDAQ-listed company in South Korea, has approved a board resolution to issue approximately 58.86 million new common shares through a private placement to an investor consortium that includes Sora Ventures, AsiaStrategy, Metaplanet CEO Simon Gerovich, and Korean investment firm KCGI. The total amount to be raised is approximately 34.49 billion KRW (about 25 million USD). Upon completion of the transaction, the consortium will become the largest shareholder of SGA, and the funds will be used for strategic acquisitions and general corporate operations.
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