Latest news with #21MillionPlan
Yahoo
4 days ago
- Business
- Yahoo
Metaplanet to Raise $5.3B, Japan's Largest Stock Warrant Deal, to Grow Bitcoin Stash
Metaplanet, the Tokyo-listed firm now positioning itself as a bitcoin BTC-focused treasury company, has launched a $5.3 billion plan to buy more BTC by issuing 555 million shares through stock acquisition rights. The deal, Metaplanet says, is the largest-ever issuance of stock warrants in Japan and the first time moving strike warrants, where the exercise price adjusts with the market, have been sold at or above current share prices in the country. The offering is part of what the company calls its '555 Million Plan,' a follow-up to its earlier '21 Million Plan,' which raised $600 million earlier this year and helped Metaplanet amass nearly 9,000 BTC. The new round aims to raise enough funds to boost its holdings to over 210,000 BTC by 2027, roughly 1% of the total bitcoin supply. Metaplanet is allocating nearly 96% of the capital raised to buying bitcoin directly, with smaller amounts earmarked for bond redemptions and income-generating strategies like selling put options. The company sees BTC as a hedge against Japan's prolonged negative interest rates and weakening yen. To reduce dilution and protect shareholders, the issuance comes with a minimum exercise price and gives the company the right to temporarily suspend conversions. Shares will be sold to EVO FUND, a Cayman-based fund that has backed Metaplanet's earlier financing deals. Metaplanet's shares have risen more than 275% so far this year as the firm follows through with its BTC accumulation plan. They closed down 1.6% in Friday's trading in to access your portfolio
Yahoo
30-01-2025
- Business
- Yahoo
Japan's Metaplanet Plans to Buy 21,000 Bitcoin by 2026
Tokyo-listed Metaplanet said on Tuesday that it would accumulate 10,000 bitcoin (BTC) by the end of 2025 and 21,000 bitcoin by the end of 2026 as part of a corporate treasury plan. The strategy is designed to establish Metaplanet as one of the world's largest corporate holders of bitcoin, the company said. It holds over $180 million worth of asset as of Wednesday, data shows. The so-termed "21 Million Plan' — a likely nod to bitcoin's total supply — involves issuing 21 million shares via moving strike warrants to raise approximately 116.65 billion yen (or nearly $740 million at current exchange rates), marking one of the largest equity capital raises for bitcoin in Asia. This plan aims to protect shareholder value by setting the exercise price at 100% of the previous day's closing price, avoiding the dilution often seen with traditional warrants. Metaplanet targets an expected 35% BTC Yield each quarter. It achieved a 309.82% BTC Yield for Q4 2024 following a 41.7% BTC Yield in Q3 2024 — a move that proves its acquisition strategy was on the right path, per the release. 'BTC Yield is the foundation of our strategy and the ultimate measure of our success,' said Dylan LeClair, Director of Bitcoin Strategy at Metaplanet. 'We don't measure performance in fiat currencies like the yen or the dollar—our benchmark is Bitcoin itself.' 'Our mission is to maximize bitcoin per share for our shareholders. Bitcoin is not just an asset; it's the exit strategy. We're here to accumulate and lead, not sell,' LeClair added. Shares of Metaplanet closed 5% higher on Wednesday.
