Magnolia acquired rookie forward Chris Koon after playing just five games for newcomer Titan Ultra.
The Hotshots sent veteran southpaw Aris Dionisio to complete the deal that was approved by the PBA on Tuesday.
Titan dealt the Ateneo product a few days since sending the rights of Dave Ildefonso to Converge in exchange for rookie Kobe Monje and two future draft picks.
Koon’s move came amid the Giant Risers’ struggles in the Philippine Cup with a 1-4, having dropped four in a row after defeating the Meralco Bolts in their PBA debut.
Last Sunday saw Titan squander a 19-point lead and lose by one to Rain or Shine on four free throws by Anton Asistio in the dying seconds.
Koon was picked fourth overall in last month’s Draft when Titan’s purchase of NorthPort was still pending league approval.
Dionisio has been with Magnolia since being taken eight overall in the 2019 Draft, usually playing as a spot-up big man off the bench.