Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁
Metaplanet Targets $137 Million Boost to Expand Bitcoin Holdings
Key Takeaways
- Metaplanet plans to raise up to $137 million overseas through share sales and stock acquisition rights to strengthen its finances;
- The company will use most of the funds to buy more Bitcoin, support Bitcoin operations, and partially repay its credit facility;
- Reaffirming its role as a “Bitcoin Treasury Company", Metaplanet sees Bitcoin’s scarcity as key to its long-term value strategy.
Japanese company Metaplanet, listed on the Tokyo Stock Exchange, has approved a plan to raise up to $137 million in overseas funding.
According to the company’s January 29 filing, Metaplanet will issue 24.5 million new shares at 499 yen each, which should raise about 12.24 billion yen (about $78 million).
Additionally, it will issue 159,440 stock acquisition rights, which could be converted into approximately 15.9 million additional shares. If all these rights are used, they could bring in another $56 million.
Did you know?
Subscribe - We publish new crypto explainer videos every week!
Layer 2 Scaling Solutions Explained With Animations
These rights allow investors to buy shares later at a set price that’s higher than the current market value, but only within the next year. Both the shares and the rights will be sold privately to investors outside Japan, with the usual conditions that apply to such deals.
Dylan LeClair, Metaplanet’s Bitcoin
The company stated that most of the funds will go toward buying more Bitcoin, supporting its Bitcoin-related income operations, and repaying part of an existing credit facility. The partial debt repayment would help restore borrowing capacity and give the firm more flexibility for future funding decisions.
Metaplanet also reaffirmed its identity as a “Bitcoin Treasury Company". It said Bitcoin’s limited supply and ease of transfer make it a suitable long-term store of value.
Metaplanet recently updated its financial outlook with mixed results. What did the company say? Read the full story.