- Metaplanet aims to raise ¥10.08 billion via a stock rights offering to boost Bitcoin holdings.
- Shareholders will receive stock acquisition rights gratis, exercisable at ¥555 per share until October 15, 2024.
- Unexercised rights will be acquired by Metaplanet and may be allocated to specific investors.
Metaplanet, a Japanese investment firm, has announced a bold move to raise ¥10.08 billion through a stock rights offering. The Board of Directors has approved a gratis allotment of the 11th series of stock acquisition rights, providing all shareholders an equal opportunity to participate.
This initiative aims to bolster its Bitcoin holdings, continuing its aggressive acquisition strategy.
Details of the Stock Rights Offering
The stock acquisition rights will be allotted gratis to all common shareholders as of September 5, 2024. Each shareholder will receive one stock acquisition right for each share of common stock they hold, in proportion to their shareholding ratio. The exercise price for each acquisition stock is set at ¥555.
To exercise their stock acquisition rights, shareholders must submit an exercise request form to the company and remit the exercise price. This process must be completed within the period from the receipt of the notification until October 15, 2024. Shareholders have the option to decide whether to exercise their rights, with no further action required if they choose not to.
Future Allocation of Unexercised Rights
Any stock acquisition rights not exercised by the October 15, 2024 deadline will be acquired by Metaplanet for no consideration. The company may then allocate these rights at fair value to specific investors approved by the Board of Directors, referred to as “Specific Investors.”
This strategic move aligns with Metaplanet’s ongoing efforts to strengthen its Bitcoin reserves. The firm has been actively purchasing Bitcoin, with recent acquisitions significantly boosting its holdings.
Metaplanet’s decision to raise funds through a stock rights offering reflects its confidence in Bitcoin’s potential and its dedication to providing value to its shareholders. As the company continues to expand its Bitcoin portfolio, it remains at the forefront of the evolving digital asset landscape.
Read Also
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
