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Japanese investment firm, Metaplanet has announced a plan to raise 9.5 billion Japanese yen, worth $62 million, through a stock acquisition scheme. This move marks another step in boosting its Bitcoin portfolio. It aligns with the company’s strategic focus on reducing exposure to the depreciating Japanese yen while leveraging Bitcoin’s long-term growth potential.
The company’s Board of Directors approved the allocation of 29,000 units of its 12th Stock Acquisition Rights to EVO FUND, a Cayman Islands-based investment entity, under a third-party allotment scheme.
The proceeds will primarily fund the acquisition of additional Bitcoin, strengthening Metaplanet’s existing treasury of 1,142 BTC, valued at over $109 million as of November 28, 2024. The offering is structured to raise capital dynamically, adjusting the exercise price of the stock acquisition rights based on market conditions. This approach allows for flexibility while mitigating excessive dilution of existing shares, though the process will result in an estimated 8% dilution.
According to the company, this initiative highlighted its vision of becoming a “Bitcoin-first” treasury management entity.
Metaplanet’s strategy also considers Japan’s economic environment, with persistent yen depreciation and inflation adding urgency to its Bitcoin-focused treasury transformation. The funds are expected to be utilized between December 2024 and June 2025, with a smaller portion allocated to operational expenses.
Closely following MicroStrategy’s Bitcoin-focused financial strategy, Metaplanet started its BTC acquisitions in April. The firm has amassed 1,142 Bitcoin so far, valued at over $109 million, marking a bold commitment to cryptocurrency investments.
Earlier this month, the Tokyo-listed company approved a one-year debt issuance worth ¥1.75 billion, valued at around $11.3 million, at 0.36% annual interest during its November 18 board meeting. As reported earlier, proceeds will fund Bitcoin purchases, supporting the company’s strategy to grow its cryptocurrency reserves. The bonds, redeemable at face value on November 17, 2025, will be drawn after guarantee arrangements are finalized.
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The company’s Board of Directors approved the allocation of 29,000 units of its 12th Stock Acquisition Rights to EVO FUND, a Cayman Islands-based investment entity, under a third-party allotment scheme.
Bitcoin Acquisition through Stock Scheme
The proceeds will primarily fund the acquisition of additional Bitcoin, strengthening Metaplanet’s existing treasury of 1,142 BTC, valued at over $109 million as of November 28, 2024. The offering is structured to raise capital dynamically, adjusting the exercise price of the stock acquisition rights based on market conditions. This approach allows for flexibility while mitigating excessive dilution of existing shares, though the process will result in an estimated 8% dilution.
According to the company, this initiative highlighted its vision of becoming a “Bitcoin-first” treasury management entity.
Metaplanet’s strategy also considers Japan’s economic environment, with persistent yen depreciation and inflation adding urgency to its Bitcoin-focused treasury transformation. The funds are expected to be utilized between December 2024 and June 2025, with a smaller portion allocated to operational expenses.
Bitcoin Acquisition Strategy
Closely following MicroStrategy’s Bitcoin-focused financial strategy, Metaplanet started its BTC acquisitions in April. The firm has amassed 1,142 Bitcoin so far, valued at over $109 million, marking a bold commitment to cryptocurrency investments.
Earlier this month, the Tokyo-listed company approved a one-year debt issuance worth ¥1.75 billion, valued at around $11.3 million, at 0.36% annual interest during its November 18 board meeting. As reported earlier, proceeds will fund Bitcoin purchases, supporting the company’s strategy to grow its cryptocurrency reserves. The bonds, redeemable at face value on November 17, 2025, will be drawn after guarantee arrangements are finalized.
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Source link
The post Metaplanet Secures $62M to Buy Bitcoin Portfolio via 12th Stock Acquisition Rights appeared first on Panther AI.
Continue reading...