K Wave Media, a Nasdaq-listed Korean media company, filed a shelf registration to raise up to $250 million in securities on June 30. The filing shows that it has fully exited its bitcoin treasury, liquidating all remaining holdings and ending its plan to acquire 10,000 bitcoin. K Wave sold 88 bitcoin on April 29 and the remainder on May 6, bringing its bitcoin balance to zero. The company announced a pivot to AI data centers and GPU computing, allocating funds to the new focus. It plans to rebrand as Talivar Technologies, request a reverse stock split, and sell its main entertainment subsidiary to reduce about $48 million of debt. Shareholders will vote next week on the name change and financing proposal. The firm currently trades near 16 cents, has been warned twice by Nasdaq for not meeting listing requirements, and may be delisted if its share price does not rise. The $250 million raise would exceed its current market value. The company said the AI pivot faces intense competition and capital demands, and it must remain listed on Nasdaq to deploy the raised capital.