Overview
- Metaplanet secured ¥40.8 billion (~$255 million) via new shares priced at a 2% premium and attached fixed‑strike warrants at a 10% premium that could add ~¥44.5 billion if exercised before 2028.
- The company unveiled moving‑strike warrants tied to a modified NAV, allowing exercise only when the stock trades at or above 1.01× mNAV, and it suspended older warrants covering up to 210 million shares to limit dilution.
- Management says most proceeds will grow its bitcoin treasury toward targets of 100,000 BTC by end‑2026 and 210,000 BTC by end‑2027; current holdings stand at 35,102 BTC, placing it among the largest corporate treasuries.
- Disclosures show not all funds go to purchases, with about ¥21.1 billion earmarked to repay borrowings and roughly ¥6.3 billion to support bitcoin income‑generation activities.
- Shares rose about 5% as bitcoin topped $73,000, and the firm outlined expansion plans including a U.S. unit, Metaplanet Asset Management, alongside a ventures arm.