Metaplanet, a Tokyo-listed company focused on Bitcoin investments, has announced a significant capital raise aimed at expanding its cryptocurrency holdings and alleviating debt. According to the results published in the material, the company is set to issue new shares and stock acquisition rights, potentially raising up to 137 million.
Metaplanet Plans Major Share Issuance
In a filing made on Thursday, Metaplanet revealed plans to issue 245 million common shares priced at 499 Japanese yen each, which is expected to generate approximately 122.4 billion yen (around 78 million) in initial capital. Furthermore, the company has approved the issuance of 159,440 stock acquisition rights, which could provide an additional 56 million if exercised.
Financing Strategy and Use of Proceeds
This financing strategy is crafted to raise necessary funds while minimizing shareholder dilution, enabling Metaplanet to take advantage of stock market fluctuations. The proceeds from this capital raise will primarily be directed towards acquiring more Bitcoin, investing in its Bitcoin income business, and partially repaying existing borrowings under a credit facility.
Metaplanet's Position in the Bitcoin Market
Currently, Metaplanet ranks as the fourth-largest corporate holder of Bitcoin globally, with a substantial portfolio of 35,102 BTC valued at over 3 billion. This move underscores the company's commitment to strengthening its position in the cryptocurrency market.
Metaplanet has set ambitious operational targets for 2026, aiming for significant revenue growth despite anticipated losses. This follows their recent announcement regarding a major capital raise to enhance their Bitcoin investments. For more details, see read more.
