K Wave Media appoints new chairman and co-CEO ahead of Nexus rebrand

K Wave Media (NASDAQ:KWM) said it signed an exclusive LOI to acquire a controlling stake, 50% plus one share, in a privately held South Korean semiconductor materials and specialty chemicals company. KWM cited double-digit revenue growth in 2024-2025 and improving EBITDA and net income margins. The deal depends on due diligence, financing, regulatory approvals, and a definitive agreement, with target signing by end-August 2026 and closing by end-October 2026.

Borr Drilling reported unaudited Q2 2026 operating revenues of $232.3M (down 6% sequentially) and a net loss of $241.4M, mainly from a $176.3M debt extinguishment charge tied to refinancing. Adjusted EBITDA fell 51% QoQ to $43.8M. The company said a 50/50 JV completed a $287M purchase of five jack-up rigs and it has $541M backlog.

Australia’s biggest aluminium smelter, Tomago Aluminium near Newcastle, is expected to get a multi-year bailout from the federal and NSW governments after negotiations to keep it open and protect 1,000+ jobs. The plant’s power contract expires in 2028 and electricity costs are set to double. Tomago is majority-owned by Rio Tinto, which reported $US6.7b half-year profit.

Carson City Council withdrew a proposed ballot measure to triple its refinery tax and instead accepted a $370 million settlement from Marathon Los Angeles refinery owner Marathon Petroleum, ending litigation. The deal includes a $120 million upfront payment and $250 million in annual installments over 15 years. The California Supreme Court recently ruled in Tesoro Refining’s favor on refund procedures.

DynaResource said it plans a US$3.0 million private placement at US$0.45 per unit, with each unit including one common share and one warrant. Warrants have a US$0.51 exercise price and expire 180 days or 30 days after an authorized-share condition is met. Committed investors will advance US$851,250, subject to definitive documentation. Proceeds will fund general purposes, working capital, debt service and San José de Gracia capex.

ICE (Intercontinental Exchange) is selling up to $3.5B of investment-grade bonds in five tranches with maturities of 3 to 10 years, led by Bank of America and Wells Fargo. The longest tranche is priced at about 1.15 percentage points over comparable Treasuries. Proceeds replace ICE’s $6.25B bridge loan tied to its planned $6B MarketAxess acquisition.