Metaplanet Inc. (3350) rose 5.7% on Wednesday after the Tokyo-based company plans to sell its shares to foreign investors, providing updates on recent capital litigation and saying it would temporarily suspend warrant exercises.
The company plans to issue up to 555 million new Tokyo-earned shares through international supply, subject to shareholder approval at its extraordinary general meeting on September 1, states in a post on X.
The offering is expected to raise approximately 1300.3 billion yen ($880 million), with the majority being allocated to Bitcoin. BTC$110,981.61 A small portion of the purchase and Bitcoin revenue generation business. The move aims to expand Bitcoin Net Asset Value (NAV) and strengthen relationships with institutional investors around the world.
Metaplanet also reported progress on the exercise of its 20th share acquisition rights. Between August 14th and August 26th, investors exercised 275,000 rights, resulting in the issuance of 27.5 million shares at prices ranging from 966 to 834 yen.
The new shares have increased the company’s total shares to 739.7 million as of August 26th. Metaplanet redeemed early in July and August, further downwards ahead of maturity of its bond schedule in December.
Finally, the company said it would suspend its 20th, 21st and 22nd exercise of its share acquisition rights from September 3rd to September 30th. Metaplanet noted that it retains the flexibility to restart or adjust the suspension as needed.
The company’s shares closed at 890 yen.
