Metaplanet Raises $137 Million to Repay Debt and Expand Bitcoin Holdings
Tokyo-based bitcoin treasury company Metaplanet is raising up to 21 billion yen ($137 million) through a share and warrant issuance to fund its aggressive bitcoin BTC $82,794.83 purchases and pay down debt.
The capital will come from a sale of 24.53 million new common shares at 499 yen each, about 5% above the prior closing price, generating approximately 12.24 billion yen in upfront proceeds. Despite the premium pricing, the company’s shares closed at 456 yen, down 4% on the day, reflecting short-term dilution concerns.
The offering is structured as a third-party allotment, meaning the securities are placed directly with select investors rather than through the public market. Each share comes with 0.65 stock acquisition rights, representing 15.94 million potential shares and 65% warrant coverage. The warrants carry a fixed exercise price of 547 yen and a one-year exercise period. If fully exercised, they could bring in an additional 8.9 billion yen, with fixed-strike terms limiting variable dilution.
Of the upfront proceeds, 5.2 billion yen is earmarked for partial repayment of existing debt. Metaplanet currently has approximately $280 million in outstanding debt, according to its dashboard. The remaining funds are expected to support further bitcoin accumulation and general corporate purposes.
The company currently holds 35,102 BTC, ranking as the fourth-largest bitcoin holding among publicly traded companies.
