Metaplanet Raises $66 Million to Explore Bitcoin’s Potential

• Metaplanet raised $66 million through a stock rights sale, completing 100% issuance.  
• The funds will support future initiatives, with Bitcoin’s growth in focus.  
• Early bond redemption reduces liabilities, with minimal fiscal impact expected.

Metaplanet Inc. has raised $66 million in a stock rights sale to fund future ventures, including exploring Bitcoin’s potential growth.

The investment came from the exercise of its 11th stock acquisition rights, showing the firm’s confidence in Bitcoin and other emerging technologies. Between September 6 and October 22, 2024, Metaplanet fulfilled 18 million units of stock rights, issuing an equal number of shares to participants and generating 10 billion yen (around $66 million). This funding will likely support future ventures, allowing Metaplanet to expand its presence in cryptocurrency, with a focus on Bitcoin.

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Besides the stock rights sale, Metaplanet decided to pay back its 2nd series of ordinary bonds before they were due. The bonds were due in June 2025, but EVO FUND, the sole bondholder, requested early repayment. This move eliminates future interest liabilities and increases the company’s financial flexibility.

Metaplanet Prioritizes Bitcoin for Future Growth

The redemption funds came from Metaplanet’s existing capital allocation plan, meaning they’re using pre-allocated funds. This minimizes the impact on its fiscal performance for the year ending in December 2024.

These actions aim to strengthen Metaplanet’s financial position and enable them to take advantage of the growing Bitcoin ecosystem. With rising interest in decentralized finance and cryptocurrencies, Metaplanet’s focus on Bitcoin shows its intention to pursue new opportunities in the digital economy. The capital influx improves its financial standing, supporting innovation and exploration of new business avenues, particularly within the cryptocurrency sector.

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Furthermore, the stock rights sale and bond redemption are crucial steps in Metaplanet’s long-term strategy. By amassing substantial funds and reducing liabilities, the company is gearing up for future projects, particularly in cryptocurrency and blockchain, where Bitcoin’s ongoing development is at the core focal point. Investors and stakeholders eagerly await how Metaplanet will leverage its strengthened capital base to enhance its market position in these transformative industries.