Metaplanet has announced the issuance of its 12th series of stock acquisition rights to EVO Fund, aiming to raise funds for further Bitcoin purchases.
Plans for Stock Rights Issuance
Metaplanet has announced plans to issue its 12th series of stock acquisition rights to the EVO Fund, an investment management firm based in the Cayman Islands. The third-party allotment is scheduled to begin on December 16, 2024.
Financial Details and Conditions
Metaplanet will issue a total of 29,000 units, with each unit granting EVO Fund the right to purchase 100 ordinary shares. The subscription price for each right is 614 yen, resulting in a total issuance of 17,806,000 yen. If EVO Fund opts to purchase all the units offered, Metaplanet will secure over 9.5 billion yen (approximately $62 million). However, the transaction is subject to approval under Japan’s Financial Instruments and Exchange Act.
Utilization of Raised Funds
The company has confirmed that most of the raised funds will be directed towards acquiring more Bitcoin, aligning with its treasury strategy focused on Bitcoin.
The announcement of stock rights issuance follows Metaplanet's recent inclusion in the BLOK ETF, which focuses on blockchain technology investments and includes 53 companies.
