The Japanese Bitcoin-Stacking Company Metaplanet has gained the approval of the shareholder to overhaul its capital structure, cleaning a path for billions of potential fundraising for the approach to bitcoin accumulation.
In an extraordinary general meeting on Monday, investors Backed Changes in articles of integration of the company to expand its authorized sharing to 2.7 billion. It also introduced a new dual-class preferred stock system that would allow metaplanet to attract different types of investors while maintaining control for existing shareholders.
Class A’s shares will bring a fixed dividend, offering income-focused investors a stronger return. Class B shares will be a riskier bet, but with the option to convert to standard stock. The transfer provides potential reversal if the company’s bitcoin accumulation approach is succeeded.
Metaplanet New sharing classes have been framing As a “defensive mechanism,” which protects common shareholders from excessive dilution while opening nearly 555 billion yen ($ 3.7 billion) in potential funding.
Metaplanet moves closer to the realization of Bitcoin’s goals
On August 1, metaplanet The plan announced to raise $ 3.7 billion To help its goal funding to obtain 210,000 Bitcoin (Btc) by the end of 2027.
On Wednesday, the company’s Board of Directors decided to issue new shares through an international offer. It has prepared the way for the shareholder meeting, which is likely to be the biggest drawback to internal management.
As the shareholders approve the plot, the company board should still allow specific terms of release. The metaplanet should also file detailed registration statements with Japanese regulators.
The biggest challenge for the company’s goals to raise funds is to obtain an actual investor to achieve a maximum potential increase of $ 3.7 billion.
Metaplanet’s efforts to raise funds come in the middle of a recent decrease in stock prices. On Tuesday, Google’s financial data shown Metaplanet’s stock trades nearly $ 5.74, down by 54% from high $ 12.75 in June.
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Metaplanet holds the sixth largest corporate Bitcoin Treasury
Like Tuesday, the metaplanet is the sixth largest corporate holder with Bitcoin holding the world. The company bought 1,009 BTC on Monday for about $ 112 million.
This Pushed its holdings to 20,000 Bitcoincosts nearly $ 2.2 billion in current market prices.
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