Metaplanet to Raise $62M Through SARs to Expand Bitcoin Holdings

Metaplanet to Raise $62M Through SARs to Expand Bitcoin Holdings
  • Metaplanet plans to raise $62M through its 12th SAR series to expand Bitcoin holdings, aligning with its strategic financial goals.  
  • Metaplanet will issue 29,000 SAR units to EVO FUND, enabling significant Bitcoin acquisitions as part of its treasury strategy.  
  • Metaplanet holds 1,142 Bitcoin worth $109.16M and continues aggressive growth with fundraising and strategic cryptocurrency investments. 

A Japanese investment firm, Metaplanet, has announced its plan to sell the twelfth series of stock acquisition rights (SARs) to raise $62 million. It is part of the company’s new financial management plan to build up its stocks of Bitcoins for this initiative. 

Details of the Stock Acquisition Rights 

Metaplanet revealed that it plans to issue 29,000 units of SARs, enabling the holder to purchase common shares later. Each unit entitles the buyer to acquire 100 shares of Metaplanet’s stock, priced at 614 yen per unit. The issuance will be through a third-party allotment to EVO FUND, a Cayman Islands-based entity. 

The total issuance price for the SARs is at 17,806,000 yen. If EVO FUND exercises all rights, Metaplanet could raise to 9.5 billion yen, approximately $62 million. The transaction is, however, conditional on regulatory approval under the Financial Instruments and Exchange Act. The shares are expected to be sold through the SARs once all the conditions of the contracts are met on December 16, 2024. 

Focus on Bitcoin Reserves and Strategy 

The funds raised through this initiative will be used to acquire additional Bitcoin as part of Metaplanet’s treasury management strategy. The company has emphasized its pivot toward using Bitcoin as a core financial asset, citing its importance amid the depreciation of the Japanese yen. 

Metaplanet explained in its press release that the move will help the company achieve its five-year plan as the cryptocurrency gains value in the market. “There is much awareness of the necessity to expand Bitcoin holdings.” We are committed to this venture to enhance our financial situation. 

Apart from direct purchases of Bitcoins, Metaplanet uses stock offers and debt securities to grow its Bitcoin portfolio.

Recent Developments and Partnerships 

Metaplanet recently completed its 11th SAR series, raising 10 billion yen ($66 million). The company has also secured an exclusive licensing agreement to bring *Bitcoin Magazine* to Japan. This partnership aims to offer localized content for the country’s growing Bitcoin community, further cementing Metaplanet’s influence in the cryptocurrency sector. 

Frequently compared to MicroStrategy, Metaplanet has been dubbed “Asia’s MicroStrategy” due to its aggressive Bitcoin acquisition strategy. The firm employs a combination of direct purchases and options trading to grow its reserves and generate income through trading premiums.

Crypto 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.

Other posts

Top Altcoins Poised for Explosive Growth in 2024
3 Promising Altcoins to Buy for Massive Gains by Christmas

Looking for altcoins that could bring big returns by Christmas? Three coins have shown strong growth recently and seem poised for more. TRX, JASMY, and ONDO are gaining traction, with plenty of market activity behind them. Let’s break down why these altcoins are worth adding to your watchlist. Tron (TRX) Source: Trading View Tron recently hit a new all-time high, jumping 16% in 24 hours to $0.2381. The market cap now exceeds $20.55 billion. Recently, whale activity has surged. Large transactions above $100,000 rose from 244 to 722 in just one day. This growing interest from big investors could lead