Metaplanet Breaks Record with Largest Capital Raise to Boost Bitcoin Holdings
Metaplanet (3350), a Japanese hotel investment firm, has made history with the largest-ever capital raise in Asian equity markets, aimed at increasing its bitcoin (BTC) reserves. By issuing 21 million shares through 0% discount moving strike warrants, the company raised 116 billion yen ($745 million). This approach allows warrant holders to purchase shares at the current market price, minimizing dilution for existing shareholders.
The capital raise aligns with Metaplanet’s “Bitcoin-first, Bitcoin-only” strategy, reflecting its commitment to expanding its bitcoin holdings amidst the yen’s devaluation and Bitcoin’s surge to new record highs. The issuance of stock acquisition rights was priced at 363 yen per unit ($2.33), with adjustable exercise prices based on market fluctuations.
Now the fifteenth-largest publicly traded holder of bitcoin, Metaplanet owns 1,762 BTC. The company saw a 3% increase in its stock price following the announcement, and its shares have risen 16% year-to-date, demonstrating strong investor confidence in its bitcoin-focused strategy.
