Metaplanet to raise $ 5.3b in Japan’s largest stock warrant deal to grow Bitcoin Stash
Metaplanet, the firm listed in Tokyo now positions itself as a bitcoin
-Focused Treasury Company, launched a $ 5.3 billion plan to buy more BTC by releasing 555 million shares through stock acquisition rights.
The deal, Metaplanet says, is the largest issuance of stock warrants in Japan and the first time moving warrants warrants, where the price of exercise is organizing the market, has been sold at or more than current sharing prices in the country.
The offering is part of the company’s so-called “555 million plans,” a follow-up to its earlier “21 million plans,” which raised $ 600 million earlier this year and helped Metaplanet amass nearly 9,000 btc.
The new cycle aims to raise enough funds to boost its holdings to more than 210,000 BTC by 2027, approximately 1% of the total Bitcoin supply.
Metaplanet allocates almost 96% of the capital raised to purchase directly with the purchase of Bitcoin, with a smaller amount marked for bond redemption and revenue techniques such as selling placement options.
The company sees BTC as a fence against Japan’s long negative interest rates and weakens Yen.
To reduce dilution and protect shareholders, the release has a minimum exercise price and gives the company the right to temporarily suspend conversions. Shares will be sold to Evo Fund, a Cayman -based fund that has That -backs the previous deals in metaplanet financing.
Metaplanet shares increased by more than 275% until this year as the company complies with the BTC accumulation plan. They closed 1.6% during the Friday trading session.
Read more: Metaplanet got 1,088 Bitcoin to bring BTC stash to more than $ 930m
