Japan’s Metaplanet Bitcoin Investment Gets Boost With $70 Million Stock Rights Offering
Key Points:
- Metaplanet will raise ¥10.08 billion ($70 million) through the issuance of stock rights to existing shareholders.
- The funds will be used to significantly increase Metaplanet’s Bitcoin holdings.
- The move aligns with MicroStrategy’s strategy, aiming to make Metaplanet Japan’s top publicly traded Bitcoin holder.
Japanese listed company Metaplanet moved to raise up to ¥10.08 billion for a stock rights offering for the purpose of increasing the firm’s current Bitcoin holdings.
Read more: Metaplanet Bitcoin Investment Strengthens With New ¥200 Million BTC Purchase
¥10.08 Billion Stock Rights Offering to Boost Metaplanet Bitcoin Investments Significantly
The Board of Directors passed a resolution to issue an 11th series of unlisted stock acquisition rights to its current shareholders.
One common stock purchase right per share shall be issued to each shareholder of record on September 5, 2024. The rights shall allow the holder to purchase shares of Metaplanet common stock until October 15, 2024, at an exercise price of 555 yen or $4 per share. This will enable all the current investors to maintain their percentage ownership in the company while being allowed to participate and benefit from the Metaplanet Bitcoin investment.
The company is now optimistic that this offering will hugely improve the treasury, with Metaplanet now in possession of about 246 Bitcoins. It took a cue from Nasdaq-listed company MicroStrategy, one of the giant Bitcoin investors, which had borrowed through debt and issued equity to purchase more than 220,000 Bitcoins starting in 2020, hence influencing the strategy for Metaplanet.
Metaplanet Aims to Lead Japan’s Bitcoin Holdings
As part of this huge business expansion plan, Metaplanet Bitcoin investment is making place itself Japan’s leading and publicly held Bitcoin holder.
The company said it is doubling down on Bitcoin not just as a reserve asset but also because it projects the cryptocurrency to appreciate further in the future and act as a hedge for depreciating fiat currencies. Metaplanet’s initial investment in Bitcoin began in April when it bought $6.5 million worth of it.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
News
Japan’s Metaplanet Bitcoin Investment Gets Boost With $70 Million Stock Rights Offering
Key Points:
- Metaplanet will raise ¥10.08 billion ($70 million) through the issuance of stock rights to existing shareholders.
- The funds will be used to significantly increase Metaplanet’s Bitcoin holdings.
- The move aligns with MicroStrategy’s strategy, aiming to make Metaplanet Japan’s top publicly traded Bitcoin holder.
Japanese listed company Metaplanet moved to raise up to ¥10.08 billion for a stock rights offering for the purpose of increasing the firm’s current Bitcoin holdings.
Read more: Metaplanet Bitcoin Investment Strengthens With New ¥200 Million BTC Purchase
¥10.08 Billion Stock Rights Offering to Boost Metaplanet Bitcoin Investments Significantly
The Board of Directors passed a resolution to issue an 11th series of unlisted stock acquisition rights to its current shareholders.
One common stock purchase right per share shall be issued to each shareholder of record on September 5, 2024. The rights shall allow the holder to purchase shares of Metaplanet common stock until October 15, 2024, at an exercise price of 555 yen or $4 per share. This will enable all the current investors to maintain their percentage ownership in the company while being allowed to participate and benefit from the Metaplanet Bitcoin investment.
The company is now optimistic that this offering will hugely improve the treasury, with Metaplanet now in possession of about 246 Bitcoins. It took a cue from Nasdaq-listed company MicroStrategy, one of the giant Bitcoin investors, which had borrowed through debt and issued equity to purchase more than 220,000 Bitcoins starting in 2020, hence influencing the strategy for Metaplanet.
Metaplanet Aims to Lead Japan’s Bitcoin Holdings
As part of this huge business expansion plan, Metaplanet Bitcoin investment is making place itself Japan’s leading and publicly held Bitcoin holder.
The company said it is doubling down on Bitcoin not just as a reserve asset but also because it projects the cryptocurrency to appreciate further in the future and act as a hedge for depreciating fiat currencies. Metaplanet’s initial investment in Bitcoin began in April when it bought $6.5 million worth of it.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
Latest
Best New Meme Coins to Invest in Today: BTFD Coin Wows Investors with Unmissable Stage-7 Price Reversal as Book of Meme and Snek Crash
Press Release
Best New Meme Coins to Invest in Today: BTFD Coin Wows Investors with Unmissable Stage-7 Price Reversal as Book of Meme and Snek Crash
Best New Meme Coins for Massive Return Potential: BTFD Coin’s Amazing Offer, Cat in a Dog’s World Sees Down Turn, Degen Down Double Digits
