Japan's biggest corporate bitcoin holder just bought itself a Nasdaq backdoor.
Super League shareholders approved all proposals Friday for Metaplanet's 2,100 BTC + $2.5 million cash investment, disclosed Monday. In return, Metaplanet gets 44.86 million common shares at $3.00, 100 convertible preferred shares with governance rights, and 10-year warrants — a 93.7% controlling stake.
The company renames to Superplanet and will trade under ticker SUPA. Metaplanet holds 44,000 BTC — the second-largest public corporate holder behind Strategy. The plan: finance future purchases with perpetual preferred shares, not conventional debt, plus an option to put up to $210 million into junior preferred stock.
Why it matters: this is the treasury playbook growing up. Direct access to US-dollar capital markets, a five-year share lock-up, no leverage cliff. Corporate bitcoin buying is becoming infrastructure, not speculation.
But how many equity-to-BTC machines can one market support before shareholders tire? NFA. DYOR.
$BTC #Bitcoin
Super League shareholders approved all proposals Friday for Metaplanet's 2,100 BTC + $2.5 million cash investment, disclosed Monday. In return, Metaplanet gets 44.86 million common shares at $3.00, 100 convertible preferred shares with governance rights, and 10-year warrants — a 93.7% controlling stake.
The company renames to Superplanet and will trade under ticker SUPA. Metaplanet holds 44,000 BTC — the second-largest public corporate holder behind Strategy. The plan: finance future purchases with perpetual preferred shares, not conventional debt, plus an option to put up to $210 million into junior preferred stock.
Why it matters: this is the treasury playbook growing up. Direct access to US-dollar capital markets, a five-year share lock-up, no leverage cliff. Corporate bitcoin buying is becoming infrastructure, not speculation.
But how many equity-to-BTC machines can one market support before shareholders tire? NFA. DYOR.
$BTC #Bitcoin