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Metaplanet issued 21 million shares through 0% discount moving strike warrants raising 116 billion yen ($745 million) to increase bitcoin treasury.
Jan 28, 2025, 9:02 a.m. UTC
Metaplanet (3350), the Japanese hotel investor, has announced the largest capital raise in Asian equity market history to buy bitcoin (BTC).
Metaplanet has issued 21 million shares through 0% discount moving strike warrants, raising approximately 116 billion yen ($745 million). This allows holders to buy shares at an exercise price equal to the market price, minimizing dilution for existing shareholders.
The issuance is part of the company's "Bitcoin-first, Bitcoin-only" strategy, which aligns with its plans to continue increasing its bitcoin holdings amidst the yen's devaluation and Bitcoin's all-time high.
The stock acquisition rights were issued at 363 yen per unit ($2.33) and have adjustable exercise prices based on market value.
Metaplanet is the fifteenth largest publicly traded bitcoin holder, with 1,762 BTC. It closed 3% higher on the day, and its shares are up 16% year-to-date.
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James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system. In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
CoinDesk Bot
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