Metaplanet announces a funding plan of approximately 770 billion yen - aiming to hold 210,000 BTC by 2027 | CoinDesk JAPAN

Metaplanet announces a funding plan of approximately 770 billion yen - aiming to hold 210,000 BTC by 2027

  • Metaplanet plans to issue 555 million shares to raise approximately 76.73 billion yen for additional purchases of BTC.
  • The company aims to hold over 210,000 BTC as a hedge against Japan’s economic challenges by 2027.
  • According to the company, this issuance is the largest stock warrant issuance in Japan and adopts a type of warrant with a fluctuating exercise price.

Metaplanet, which is listed on the Tokyo Stock Exchange Standard, is strengthening its position as a financial company specializing in Bitcoin (BTC) and has announced plans to issue 555 million new stock options to raise approximately 767.3 billion yen in funding to purchase additional BTC.

According to the company, this is the largest issuance of stock acquisition rights in Japan, and it is the first time in Japan that stock acquisition rights (MS warrants with strike price modifications), in which the strike price is adjusted according to the market price, have been issued above the current stock price level.

This issuance is part of the company’s so-called “555 Million Plan” and is a sequel to the “21 Million Plan,” which raised approximately 93.3 billion yen and resulted in holdings of about 9000 BTC earlier this year.

The new funding round aims to raise funds to expand the holdings of Bitcoin to 210,000 BTC (about 1% of the total supply) by 2027.

Metaplanet plans to allocate approximately 96% of its funding to the purchase of BTC, with the remainder allocated to revenue strategies such as bond redemptions and the sale of put options.

The company views BTC as a hedge against Japan’s long-standing negative interest rates and yen depreciation.

To reduce stock dilution and protect shareholders, a minimum exercise price is set for the issuance, and the company has the right to temporarily suspend conversions. The stocks will be sold to the Cayman Islands fund “EVO FUND,” which has supported Metaplanet’s past funding.

Metaplanet’s stock has risen by over 275% this year while promoting its Bitcoin Holdings plan. On June 6, it closed down 1.6%.

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