Metaplenet, the firm that mentioned Tokyo is now positioned as a bitcoin
-Coxide of the Treasury Company, has launched a plan of $ 5.3 billion to buy more BTC issuing 555 million shares through the rights of acquisition of shares.
The agreement, says Metaplenet, is the largest issuance of shares orders in Japan and the first time they move the strike orders, where the exercise price is adjusted with the market, the current or higher prices of the shares in the country have been sold.
The offer is part of what the company calls its “555 million plan”, a follow -up of its “21 million previous” plan, which raised $ 600 million earlier this year and helped Metaplenet accumulate almost 9,000 BTC.
The new round aims to raise sufficient funds to increase its participations to more than 210,000 BTC by 2027, approximately 1% of Bitcoins’ total supply.
Metaplenet is assigning almost 96% of the capital collected to buy Bitcoin directly, with smaller amounts for bond channels and income generation strategies such as the sale of sales options.
The company sees BTC as a coverage against the prolonged negative interest rates of Japan and weakening the YEN.
To reduce dilution and protect shareholders, the issuance comes with a minimum exercise price and gives the company the right to temporarily suspend conversions. The shares will be sold to Evo Fund, a Fund based in Cayman that has supported the previous Financing Agreements of Metaplanet.
Metaplenet shares have increased more than 275% so far this year, since the company continues with its BTC accumulation plan. They closed 1.6% in Friday’s negotiation session.
Read more: Metaplenet acquires 1,088 bitcoin to carry BTC Stash to more than $ 930 million
