Metaplanet to raise up to 21 billion yen ($137 million) to boost its aggressive bitcoin shopping spree and paying off debts.
The Tokyo-based firm will generate the funds through the sale of new shares and share warrants to a group of select investors.
Metaplanet will issue 24.53 million new common shares at 499 yen per share, about 5% above the previous close, raising approximately 12.24 billion yen in initial proceeds.
The company’s shares closed at 456 yen, down 4% on the day, reflecting near-term dilution concerns despite the price premium.
The capital raise is structured as a third-party allocation, meaning that securities are placed directly with specific investors rather than sold to the general public on the open market.
Each new share is accompanied by 0.65 share acquisition rights, which is equivalent to 15.94 million potential shares and 65% warranty coverage. The warrants have a fixed exercise price of 547 yen and an exercise period of one year. If exercised in full, they would generate up to 8.9 billion yen in additional revenue. These are fixed exercise warrants, with no rolling exercise style, which limits variable dilution.
Of the initial capital, 5.2 billion yen is allocated to partial repayment of existing debt.
Metaplanet has approximately $280 million in outstanding debt, according to its panel. The remaining revenue is expected to support further bitcoin accumulation and general corporate purposes.
The company currently holds 35,102 BTC, the fourth most of any publicly traded company.
