Japanese company Metaplanet Inc. has received shareholder approval for the issuance of preferred shares, allowing it to raise up to $3.8 billion for financing.
Shareholder Approval for Stock Issuance
At a meeting in Tokyo, Metaplanet shareholders voted to authorize 555 million preferred shares. President Simon Gerovich confirmed the vote outcome in his statement.
Financial Measures Following Stock Decline
The preferred share issuance is described by Gerovich as a 'defensive mechanism' to maintain value for common shareholders. This initiative comes after announcing plans to raise $884 million in international markets. Company stocks have dropped 55%.
Bitcoin Reserve Growth Strategy
Metaplanet is strengthening its position by increasing its Bitcoin reserves. The company aims for 100,000 BTC by the end of 2026. In the first half of 2025, Metaplanet achieved a profit of $5.5 million.
Metaplanet Inc. continues its strategy of increasing Bitcoin reserves despite stock fluctuations and aims to remain a leader in this sector.
