Japanese investment firm Metaplanet has announced plans to raise 180.3 billion yen, approximately $1.2 billion, through an overseas share issuance.
Share Issuance Plans
The company intends to issue up to 555 million new shares, potentially increasing its outstanding stock from 722 million to about 1.27 billion shares. The pricing for this issuance will be set between September 9 and 11, with payments to be settled soon after.
Bitcoin Acquisition Strategy
The majority of the funds, around $835 million, are earmarked for purchasing additional Bitcoin to bolster its treasury reserves. Currently, Metaplanet holds about 18,991 BTC, valued at around $2.1 billion. In addition, the firm plans to allocate $45 million to its ongoing Bitcoin Income Business.
Management Statements
Metaplanet CEO Simon Gerovich commented on the offering via social media, highlighting legal constraints around public comments during the process. This funding round reflects Metaplanet’s aggressive and long-term focus on growing its Bitcoin assets, aiming to hold over 210,000 BTC by 2027.
In conclusion, Metaplanet continues to develop its Bitcoin assets and, with the recent growth in stock and inclusion in the FTSE Japan Index, is well-positioned for further growth.
