Japan’s Bitcoin Hodler Metaplanet to buy more BTC by releasing $ 25m worth of bonds
The metaplanet -based Tokyo (3350) 5,000 btc.
According to a Notice From the company, newly issued bonds are fully sold to the Evo Fund. Bonds have no interest and will be redeemed at the PAR value on October 31, 2025, unless it is paid earlier at the bonder’s request.
The funds are specifically marked for the acquisition of BTC, in accordance with the plan disclosed earlier this year in detail the metaplanet a series of stock retrieval rights.
The company hopes to fund the redemption of the bond by capital raised by using its stock retrieval rights, which means that ultimate payback can rely on investor’s appetite for instruments associated with metaplanet equity.
If the proceeds from those rights exceed several thresholds, the metaplanet has the right to pay bond parts in advance. Metaplanet shares are closed to 428 yen each, up to 8.6% in the final trading session.
