Japanese investment advisor Metaplanet Inc. (3350) has successfully completed its 11th series of stock acquisition rights, raising a total of 10 billion yen ($66 million).

Of the total 18.1 million stocks rights issued, 72.8% were exercised by the shareholders, equivalent to 13,774 individuals. This picture illustrates how Metaplanet has achieved considerable funding and illustrates the growing interest in its acquisition rights.

Metaplanet initially announced these stock rights on August 6, when its share price was around 700 yen. Shareholders had the option to purchase new shares at a discounted rate of 555 yen per share.

The company adopted bitcoin as a reserve asset in May, aiming to hedge against currency volatility. Currently, it holds 861.4 BTC, with its shares up 642% year-to-date.

The stock acquisition rights were issued free of charge to shareholders; every common stock held granted one stock acquisition right. The exercising period ran from September 6 to October 15, allowing shareholders to act or let their rights expire.

During this period, shareholders who opted not to exercise their rights transferred 1.7 million units without charge to MMXX Ventures Limited (1.5 million units), its CEO Simon Gerovich (215,180 units), and EVO Fund (4.9 million units). The total amount raised, including these transfers, amounts to 10 billion yen ($66 million).

The capital raised attributable to the transfer to EVO Fund equals 5.7 billion yen ($37.8 million).