Key Highlights:
- Metaplanet has successfully completed 10% of its ambitious $555 million equity fundraising plan on its initial day, raising a total of $515 million by issuing 54 million shares.
- The Blockchain Group has also made strides by raising €4.8 million (approximately $5.2 million) at €5.085 per share, aligned with their strategy to boost Bitcoin accumulation.
Detailed Overview:
Metaplanet Inc. (3350) and the Blockchain Group (ALTBG) executed significant capital raises to bolster their bitcoin treasury strategies. Metaplanet announced the launch of its 20th series of stock acquisition rights, managing to raise 74.9 billion yen ($515 million) in one day. This involved issuing 54 million shares following the exercise of 540,000 stock acquisition rights, which represents 29% of total rights issued.
The significant raising for Metaplanet marks the initial substantial capital influx under its outlined plan and constitutes 10% of the total projected target. Notably, Metaplanet’s stock experienced a dip of 15% before rebounding to end the day with a 4% increase, as indicated by CEO Simon Gerovich in his statement emphasizing the importance of this milestone.
On the other hand, the Blockchain Group (ALTBG) also reported a €4.1 million ($4.8 million) increase in capital through an equity issuance agreement with TOBAM. The company aims to enhance its Bitcoin per share through this funding model, having currently acquired 1,653 BTC, making it a pioneering entity in Europe for such endeavors.
In summary, both firms’ actions reflect the increasing institutional interest and strategic focus on Bitcoin investments.
