Nexus Advanced Technologies Inc. (NASDAQ:NXAT), formerly K Wave Media Ltd. (the "Company"), today announced that it has entered into an ATM Consent, Note Repayment and Warrant Exchange Agreement (the Note and Warrant Restructuring Agreement"), effective as of October 2, 2026, with Anson Investments Master Fund L.P. and Anson East Master Fund L.P. (collectively, the "Anson Funds").

The Note and Warrant Restructuring Agreement is intended to simplify the Company’s capital structure and support future financing as management evaluates potential acquisitions, mergers and other strategic transactions across the AI ecosystem and advanced technologies. There can be no assurance that any transaction will be pursued or completed.

Under the Note and Warrant Restructuring Agreement, i) full payment of $2.5 million will make the remaining note convertible solely at a fixed price equal to the average daily VWAP for the three trading days immediately preceding full payment, with its anti-dilution, price-reset and similar adjustment provisions ceasing to apply. ii) Anson may, at its discretion, exchange warrants covering 8,310,250 ordinary shares for an aggregate of 4.5 million ordinary shares, subject to ownership limits and specified adjustments; delivery of the corresponding exchange shares cancels the exchanged warrants, and completion of the full exchange eliminates their anti-dilution and price-adjustment provisions. The cashless exchange provides no cash proceeds to the Company and will dilute existing shareholders. iii) Anson has also consented to an ATM offering during the agreed consent period at a minimum public offering price of $2.00 per ordinary share. Existing adjustment provisions continue until the applicable payment or exchange milestone is completed, and other note terms and specified financing restrictions, participation rights, repayment rights and security arrangements remain in effect except as expressly amended or waived.