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- Metaplanet approves ¥21B capital plan through new shares and stock rights to reinforce finances.
- New share issuance priced at ¥499 is expected to raise ¥12.24B as part of the funding plan.
- Stock rights may add millions of new shares, creating dilution risks noted in the filing.
Metaplanet Inc. approved a major capital raise totaling about ¥21 billion ($137 million), according to a formal filing. The Tokyo-listed Bitcoin treasury firm will issue new shares and stock acquisition rights to reinforce its financial position and advance its current strategic plans.
Metaplanet said its board authorized the issuance of 24,529,000 new common shares. Each share will be offered at JPY 499 ($3.35). The company stated that the expected total from this share placement will reach about JPY 12.24 billion ($82 million).
The firm also approved 159,440 stock acquisition rights. Each right allows the purchase of 100 ordinary shares. Metaplanet set the exercise price at JPY 547 ($3.70), calculated at 115% of the closing price on the day before the board’s resolution.
Metaplanet’s Capital Expansion and Bitcoin Impairment
The company has scheduled the allotment and payment date on February 13, 2026, for the newly issued shares and the stock acquisition rights. The completion of the issuance will result in an expansion of its capital base. The company also said that the plan is part of its broader fundraising efforts.
This week, Metaplanet announced an impairment charge of 104.6 billion yen, or $680 million, relating to its Bitcoin holdings. The company said the impairment charge results from the downturn in the market last year.
The company said that the charge is unrelated to its operations and has no effect on its cash flow or business activities. The company said the impairment charge is a non-operating expense.
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Metaplanet said the stock acquisition rights will generate about 8.80 billion yen, or $59 million. The company said the amount from the issuance and the rights will be about 21 billion yen, or $137 million. The final amount may be reduced if the rights go unexercised and are canceled during the valid period.
Third-Party Allotment and Overseas Offering Structure
If fully exercised, the stock acquisition rights could produce up to 15,944,000 additional shares. This would increase the outstanding share count and potentially dilute current shareholders. Metaplanet acknowledged this outcome as a possible effect of the fundraising structure.
The capital raise will take place through a third-party allotment. The company described the mechanism as an overseas offering. It announced that securities will be allocated to designated allottees listed in supporting documents linked to the issue.
The purchase agreement includes conditions requiring Metaplanet to comply with its representations and contractual duties. The firm noted that these conditions must remain satisfied throughout the issuance process.
Third-party allotments are common among Japanese listed companies seeking capital from new investor groups. Metaplanet’s fundraising reflects wider regional trends as firms adapt to shifting market environments and seek efficient financing options.
The company did not disclose further details on how it will use the proceeds. It stated only that the funds will support its existing corporate strategy.
Also Read: Metaplanet Lifts Bitcoin Income Forecast to ¥8.6B After Strong Q4 Results
