NEW YORK, July 30, 2026 (GLOBE NEWSWIRE) -- K Wave Media Ltd. (Nasdaq: KWM) ("K Wave Media," the "Company," "we," "our," or "us"), today announced that it will effect a 1-for-30 reverse stock split of its issued and outstanding ordinary shares.

The reverse stock split will become effective at 12:01 a.m. Eastern Time on August 3, 2026 (the "Effective Time"). The Company's ordinary shares are expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market at the opening of trading on August 3, 2026, under the existing trading symbol "KWM." The total shares outstanding pre-split is 78,514,509.

The reverse stock split was previously authorized by the Company's Board of Directors and implemented pursuant to authority granted by the Company's shareholders' approval.

Reverse Stock Split Details

At the Effective Time, every thirty (30) issued and outstanding ordinary shares will automatically be combined into one (1) ordinary share. The reverse stock split will reduce the number of outstanding ordinary shares by a factor of thirty while proportionately increasing the per-share market price, although no assurance can be given regarding the post-split trading price.

The reverse stock split affects all shareholders uniformly and will not alter any shareholder's percentage ownership interest in the Company, except for adjustments resulting from the treatment of fractional shares.

No fractional shares will be issued in connection with the reverse stock split. Fractional interests will be treated in accordance with the Company's previously announced fractional share procedures.

The Company's transfer agent, Continental Stock Transfer & Trust Company, will act as exchange agent for the reverse stock split. Shareholders holding shares in book-entry form or through brokerage accounts generally are not required to take any action, as their positions will be adjusted automatically.

New CUSIP Number

Following the reverse stock split, the Company's ordinary shares will be assigned a new CUSIP number, which will become effective in connection with the reverse stock split. The trading symbol "KWM" will remain unchanged.

Purpose of the Reverse Stock Split

The reverse stock split is intended to increase the per-share trading price of the Company's ordinary shares to support the Company's efforts to maintain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.

The reverse stock split does not change the Company's underlying business operations, assets, liabilities, or stockholders' equity, except for adjustments related to fractional shares and the reduction in the number of issued and outstanding ordinary shares.

About K Wave Media Ltd.

K Wave Media Ltd. (NASDAQ:KWM) is focused on identifying and pursuing strategic opportunities in high-growth industries, including companies from the AI ecosystem, while continuing to evaluate initiatives designed to enhance long-term shareholder value.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking.

These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of KWM’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of KWM. Some important risks that could cause actual results to differ materially from those in any forward-looking statements include changes in domestic and foreign business, market, financial, political, and legal conditions.

If any of these risks materialize or KWM’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KWM does not presently know, or that KWM currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect KWM’s current expectations, plans, and forecasts of future events and views as of the date hereof.

Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved.

You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein and the risk factors of KWM described in KWM’s Annual Report on Form 20-F filed with the SEC on May 15, 2025, including those under the heading "Risk Factors" therein. KWM anticipates that subsequent events and developments may cause its assessments to change. However, while KWM may elect to update these forward-looking statements at some point in the future, KWM specifically disclaims any obligation to do so, except as required by law.

The forward-looking statements contained herein should not be relied upon as representing KWM’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Media Contact

Investor Relations: info@kwavemedia.com

Public Relations: info@redroosterpr.com