The metaplanet (MTPLF) is announced It suspended the conduct of the 20th to 22nd series of stock acquisition rights, also known as moving strike warrants, from October 20 to Nov.
What does this mean
Metaplanet is essentially stopping, so far, the sale of standard stock to fund additional Bitcoin purchases. The company does this after a month of falling into its stock left the appreciation of sharing at almost more than Bitcoin in its balance. Additional sales of sharing can be a dilutive to shareholders.
Metaplanet is not united. Although Bitcoin has risen throughout the year and trading in the eyes of record highs, shares with Bitcoin treasury companies – most of which are quickly formed in an attempt to mimic Michael Saylor’s (MSTR) (MSTR) (MSTR) (MSTR) success.
Among them was kind (air) and striving (asst), both recently closed spac integration deals to see their sharing prices quickly lost 80% or more while investors’ question had to pay any premium on Bitcoin value on their balance sheet.
The metaplanet, holding 30,823 BTC and rank as a fourth largest corporate Bitcoin holder in the world, said the suspension is a strategic step to manage the development of capital among the emerging market conditions.
The company said it would continue to maximize flexibility, strengthen its financial foundation, and support the value of the shareholder. It also plans to continue developing new financial instruments and enhancing its capital policy.
