Metaplanet to Issue Class B Shares via Third-Party Allotment
Tokyo-listed Metaplanet Inc. has accepted the issuance of newly created Class B shares by means of a third-party allotment, marking a significant step within the firm’s long-term capital technique following its transition into a worldwide Bitcoin treasury enterprise.
The issuance, scheduled for December 29, will present the corporate with up to ¥21.2 billion (approx. $142 million) in new funds to speed up its funding and Bitcoin acquisition packages.
The announcement was made following a board assembly on November 20, the place administrators additionally accepted associated amendments to capital and capital reserve allocations.
The firm intends to increase its Bitcoin holdings and company worth by means of a structured issuance designed to entice long-term institutional participation.
Issuance Details and Structure
The deliberate providing will encompass 23.61 million Class B shares at a difficulty value of ¥900 per share, for complete proceeds of ¥21.249 billion. The shares will likely be allotted to designated buyers beneath a third-party allotment framework.
The firm pressured that each one funds should be accomplished by December 29, 2025, with shares issued by means of abroad settlement mechanisms.
The Class B construction—launched to assist Metaplanet’s transition right into a Bitcoin-focused company technique—gives differentiated rights that preserve alignment between long-term buyers and the corporate’s Bitcoin-treasury goals.
The issuance follows the expiration or cancellation of beforehand deliberate inventory acquisition rights, together with the 2025 EVO FUND-linked warrants, clearing the trail for this new capital-raising initiative.
Strategic Rationale: Strengthening the Bitcoin Treasury Model
Since 2024, Metaplanet has redefined itself as a “Bitcoin treasury enterprise,” committing its company reserves to long-term Bitcoin accumulation. The firm launched its “21 Million Plan” and subsequent “555 Million Plan,” reflecting its ambition to scale BTC holdings as a core asset.
Market volatility and exterior pressures, together with shifts in world Bitcoin miner-linked equities, prompted the corporate to re-evaluate its capital construction. With the corporate’s MNAV (market worth of Bitcoin-adjusted internet asset worth) fluctuating beneath parity at occasions, administration decided that strengthening capital reserves was important to defend shareholder worth.
Metaplanet concluded that issuing preferred-like Class B shares—relatively than counting on conventional debt or additional dilution by means of frequent shares—was the best manner to safe strategic funding, deepen the market’s understanding of its valuation mannequin, and enhance long-term value discovery.
Use of Proceeds and Future Outlook
Funds raised will likely be allotted towards the enlargement of Bitcoin holdings, company investments, and broader Bitcoin infrastructure initiatives aligned with the corporate’s treasury technique.
The issuance additionally prepares Metaplanet for a future public providing of Class B shares, with administration noting that extra itemizing preparations will observe as soon as market circumstances are acceptable.
Metaplanet stated the brand new capital will allow sustainable execution of its Bitcoin acquisition technique, improve monetary stability, and place the corporate for long-term progress in Japan and world markets.
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