Key Points:
- Metaplanet is set to issue up to 555 million new shares internationally, aiming for ¥130.3 billion (approximately $880 million), mainly for Bitcoin acquisitions.
- Additionally, 27.5 million shares will be distributed through warrant exercises, while ¥5.25 billion in bonds will be redeemed early, and a stop on further exercises has been announced.
Background Information
Metaplanet Inc. (3350) saw a 5.7% rise in its stock after the Tokyo-based company revealed intentions to attract foreign investors and disclosed updates on significant capital actions, including a temporary halt on warrant exercises. This action intends to bolster its Bitcoin asset base by re-engaging institutional investors globally.
The offering is anticipated to draw in around 130.3 billion yen ($880 million), focusing predominantly on enhancements to its Bitcoin acquisition strategy while also leveraging expanded relationships with institutional investors. Plans for extensive updates and modifications to its financial structure highlight the company’s ongoing efforts post the previous stock rights exercise, where a notable number of rights were exercised, resulting in the issuance of 27.5 million fresh shares at varying prices.
Metaplanet has expanded its total shares outstanding to 739.7 million as reported on August 26, alongside progress on its bond redemption strategy scheduled ahead of their maturity period. The company has noted a suspension of the exercises for multiple stock acquisition rights while retaining flexibility to adjust strategies as circumstances dictate.
