Metaplanet Raises $66 Million Through Stocks Acquisition Rights Program

Japanese
investment
adviser
Metaplanet
Inc.
(3350)
has
successfully
completed
its
11th
series
of

stock
acquisition
rights,
raising
a
total
of
10
billion
yen
($66
million).

The

initial
announcement
of
the
stock
acquisition
rights
was
on
Aug.
6,
when
Metaplanet’s
share
price
stood
around
700
yen.
It
gave
shareholders
the
option
to
purchase
new
shares
at
a
discounted
rate
of
555
yen
per
share.

Metaplanet
adopted
bitcoin
as
a
reserve
asset
in
May
as
it
aimed
to
hedge
against
volatility
in
the
yen.
The
company
now
holds
861.4
BTC,
according
to

bitcointreasuries.net
and
its
shares
up
up
642%
year-to-date.

The
stock
acquisition
rights
were
issued
with
no
charge
to
shareholders;
for
each
common
stock
held,
shareholders
received
one
stock
acquisition
right.
The
stock
acquisition
rights
period
started
on
Sept.
6
and
concluded
on
Oct.
15,
giving
shareholders
the
time
to
exercise
their
rights
or
let
them
expire.

During
this
period,
of
the
total
18.1
million
stock
rights
issued,
72.8%
were
exercised
by
the
shareholders,
which
was
the
equivalent
of
13,774
individuals.
As
a
result,
13.2
million
shares
were
issued
while
raising
7.32
billion
yen
($48.5
million).

The
shareholders
who
did
not
intend
to
exercise
their
stock
acquisition
rights,
totaling
1.7
million
units,
were
transferred
with
no
charge
to
MMXX
Ventures
Limited
(1.5
million
units),
its
CEO
Simon
Gerovich
(215,180
units)
and
EVO
Fund
(4.9
million
units).
The
total
raise
after
these
transfers
equals
10
billion
yen
($66
million).

The
amount
of
capital
raised
in
relation
to
the
transfer
to
EVO
Fund
equates
to
5.7
billion
yen
($37.8
million).