Korean entertainment powerhouse K Wave Media to debut on Nasdaq in Feb

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Korean entertainment powerhouse K Wave Media to debut on Nasdaq in Feb - Korea Economic Daily

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A SPAC is a publicly traded firm created to acquire or merge with an existing company.“It is rare in Korea and the US for a holding company with many subsidiaries to go public through a SPAC,” said a Global Star official.“The SEC spent a lot of time identifying and reviewing the deal's structure.” COALITION OF SIX MAJOR PLAYERSK Wave is a holding company of six domestic entertainment firms including Solaire Partners Ltd., a Seoul-based private equity firm that has invested in some of Korea's highest-grossing films, including the Oscar-winning Parasite.

K Wave Media Ltd., an umbrella entity of South Korean entertainment companies, is set to go public on the Nasdaq next month in a bid to raise money from global investors for content production and crank up its bargaining power with major content distributors such as Netflix Inc.

The company, formerly K Enter Holdings Inc., plans to hold a shareholder meeting to approve a merger with Global Star Acquisition Inc.to trade on the Nasdaq Stock Market under the symbol KWM in February, according to stock market industry sources in Seoul on Friday.