Metaplanet Raises Up to $137 Million to Buy Bitcoin and Pay Off Debt

Metaplanet, a Tokyo-listed bitcoin treasury company, announced plans to raise up to 21 billion yen ($137 million) through a third-party allotment of new common shares and stock acquisition rights. The upfront proceeds from issuing 24.53 million shares at 499 yen each will total approximately 12.24 billion yen, with an additional potential 8.9 billion yen if all accompanying fixed-strike warrants are exercised. The company intends to use 5.2 billion yen of the initial capital to partially repay existing debt, which currently stands around $280 million. The remaining funds are earmarked primarily for further Bitcoin accumulation (about $91.2 million) and income-generating activities. Metaplanet currently holds 35,102 BTC and is pursuing a long-term goal of acquiring 210,000 BTC by 2027, modeling its strategy after U.S. firms like MicroStrategy.

(Source：Bitcoin Magazine)