K Wave Media Ltd.

K Wave Media Ltd. announced new additions to its board and executive leadership team, effective immediately. Joongjae Lee has been appointed as Director and Chairman of the Board, and Richard Kim as Director and Co-Chief Executive Officer alongside Ted Kim. These appointments are intended to strengthen KWM's ability to execute its transformation strategy and active acquisition pipeline in AI infrastructure, semiconductor technologies, and advanced manufacturing. The company also received shareholder approval to change its name to "NEXUS Advanced Technologies Inc." with the ticker NASDAQ: [NXAT] around August 21, 2026.

K Wave Media Ltd. announced a 1-for-30 reverse stock split of its issued and outstanding ordinary shares, effective August 3, 2026. The company's shares are expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market under the existing symbol "KWM" on the same day. This action is intended to increase the per-share trading price to help the company maintain compliance with Nasdaq's minimum bid price requirement. The split will reduce the number of outstanding shares and proportionately increase the per-share market price, without altering shareholders' percentage ownership, except for fractional share treatment.

K Wave Media Ltd. held its 2026 Annual General Meeting on July 10, 2026, where shareholders approved several key proposals. These included a share consolidation of up to 1-for-30, an increase in authorized share capital by 90,000,000 preference shares, and a company name change. Shareholders also approved the appointment of three Class I directors and the rescission of a Share Purchase Agreement from March 2023.

K Wave Media's indirect subsidiary, Playverse Co. Ltd., acquired Hansol Inticube Co. Ltd. for KRW 15.0 billion in December 2025, gaining control despite holding a 42.25% equity interest. The auditors issued a qualified opinion on Hansol Inticube's 2025 consolidated financial statements due to the absence of comparative figures. Additionally, K Wave Media's Board approved the disposition of Play Co. Ltd., which would lead to Hansol no longer being a subsidiary, and the company also rescinded its acquisition of Solaire Partners. The filing includes unaudited pro forma financial information reflecting these transactions.

K Wave Media Ltd. announced it received a deficiency letter from The Nasdaq Stock Market on June 16, 2026. The company's Ordinary Shares did not meet the minimum $15,000,000 Market Value of Publicly Held Shares (MVPHS) requirement for continued listing from May 4, 2026, to June 15, 2026. K Wave Media has a 180-calendar-day compliance period, until December 14, 2026, to regain compliance. The company is evaluating options and intends to submit a comprehensive plan to Nasdaq in June 2026.

K Wave Media announced it received a written notification from Nasdaq on June 16, 2026, indicating non-compliance with the minimum Market Value of Publicly Held Shares (MVPHS) requirement. The company's MVPHS is below $15 million, triggering a 180-calendar-day period to regain compliance by maintaining an MVPHS of $15 million or more for at least 10 consecutive business days. The notice does not immediately affect the listing or trading of its shares, and the company is considering options to restore compliance while also planning to rebrand as Talivar Technologies, subject to shareholder approval.

K Wave Media Ltd. announced its plan to retire and cancel 9,827,057 ordinary shares, which are expected to be returned to the company by the end of July 2026. This move will reduce the company's outstanding shares by approximately 13%. The share retirement is a result of the rescission and termination of the Solaire Purchase Agreement, under which these shares were originally issued. Management views this as an effort to streamline its corporate structure as it transitions towards AI infrastructure investments.

K Wave Media Ltd. announced the rescission and termination of its Share Purchase Agreement with Solaire Partners LLC, returning Solaire to its former shareholders. Approximately 9.8 million KWM ordinary shares, previously issued for the acquisition, will be returned to KWM, reducing share dilution and strengthening the equity position of existing shareholders. This move is a decisive step in KWM's strategic transformation into a focused Artificial Intelligence company, streamlining operations and concentrating resources on AI-driven growth. The company also plans to rebrand as Talivar Technologies, pending shareholder approval.

K Wave Media Ltd. announced its Annual General Meeting (AGM) to be held virtually on July 10, 2026, at 9:00 a.m. Eastern Time. Shareholders will vote on several key proposals, including the re-appointment of three Class I directors, a share consolidation of up to 30-for-1, an increase in authorized share capital by creating 90 million preference shares, and a company name change. Additionally, shareholders will consider rescinding a Share Purchase Agreement from March 2023 and adopting new Articles of Association. The Board unanimously recommends voting for all proposals.

K Wave Media Ltd.'s indirect subsidiary, Playverse Co. Ltd., entered into a Share Purchase Agreement on December 19, 2025, to acquire 5,864,088 shares, representing approximately 42.25% of Hansol Inticube Co. for KRW15,000,337,104. Hansol Inticube, an AI language and software development company, reported revenues of 64.82 billion and a profit of 895.68 million for the year ended December 31, 2025. The acquisition will be accounted for using the acquisition method under IFRS.