Tokyo-listed company Metaplanet announced the issuance of bonds totaling 2 billion JPY to invest in Bitcoin, aligning with its strategy to bolster its digital asset position.
Metaplanet's New Bond Issuance
According to a regulatory filing on February 27, the bonds are interest-free and will be redeemed at face value on August 26. The bonds will be entirely allocated to EVO FUND with no collateral, underscoring the company's confidence in its capital allocation strategy.
Redemption Tactics and Financial Strategy
EVO FUND retains the flexibility to request early redemption at any time, with partial or complete redemption if requested at least one business day in advance. Metaplanet plans to use proceeds from the exercise of its 13th to 17th Series of Stock Acquisition Rights to facilitate bond repayment.
Increasing Bitcoin Holdings and New Metrics
Metaplanet recently acquired 135 BTC, bringing its total reserves to 2,235 BTC. Additionally, the company introduced two new performance metrics, 'BTC Gain' and 'BTC ¥ Gain', to enhance transparency.
Despite the company's strategies, Metaplanet shares have declined by nearly 25%, reflecting a broader downturn in crypto prices over the past week.
