Metaplanet to raise up to 21 billion yen ($137 million) to fuel its aggressive Bitcoin push Go on a buying spree and pay down debt.
The Tokyo-based company will raise funds by selling new shares and warrants to select investors.
Metaplanet will issue 24.53 million new common shares at a price of 499 yen per share, an increase of approximately 5% from the previous day’s closing price, raising approximately 12.24 billion yen in upfront funding.
The company’s shares closed at 456 yen, down 4% on the day, reflecting short-term dilution concerns despite the premium pricing.
The financing was structured as a third-party placement, meaning the securities were placed directly to select investors rather than sold to the public on the open market.
Each new share carries an acquisition right of 0.65 shares, equivalent to 15.94 million potential shares and 65% warrant coverage. The warrants have a fixed exercise price of 547 yen and an exercise period of one year. If fully exercised, they would generate additional proceeds of up to 8.9 billion yen. These are fixed-exercise warrants, not moving-exercise warrants, which limit variable dilution.
Of the upfront capital, 5.2 billion yen was used to repay part of existing debt.
Metaplanet has approximately $280 million in outstanding debt, according to its dashboard. Residual proceeds are expected to be used to support further Bitcoin accumulation and general corporate purposes.
The company currently holds 35,102 BTC, ranking fourth among all listed companies.
