Metaplanet has recently re-entered the spotlight following a series of announcements, particularly regarding the temporary pause on stock acquisition rights.
Pause on Stock Acquisition Rights
Metaplanet confirmed the temporary pause on stock acquisition rights for the 20th to 22nd series. This news raised questions about whether the company intends to buy Bitcoin during the current price dip. Although the exact reason for the pause was not disclosed, Metaplanet assured that the move was within legal grounds.
Plans for International Offering
Metaplanet also announced plans for a new round of share issuance targeting the international market, a significant shift from previous offerings, which were historically confined to the Japanese market. The company aims to raise approximately $881 million, which will be used to increase its Bitcoin holdings.
Impact on Metaplanet Stock Price
Following the announcement of the new share issuance, Metaplanet's stock showed a 7.58% increase, trading at $6.14. Previously, the stock price fell to as low as $5.66. Despite the recent recovery, shares remain down from their peak values over the past four weeks.
Metaplanet's decision to pause stock acquisition rights and its plans for an international offering highlight the company's activity in the Bitcoin market and its efforts to adapt to changing conditions.
