Metaplanet Raises $137 Million to Cut Debt and Expand Bitcoin Holdings

Tokyo-based bitcoin treasury firm Metaplanet is set to raise up to 21 billion yen ($137 million) through a share and warrant issuance to support additional bitcoin BTC $82,794.83 purchases and repay debt.

The company will issue 24.53 million new common shares at 499 yen each—roughly 5% above the prior close—generating approximately 12.24 billion yen in upfront proceeds. Shares ended the day at 456 yen, down 4%, reflecting short-term dilution concerns.

The offering is a third-party allotment, placing shares directly with select investors. Each share includes 0.65 stock acquisition rights, totaling 15.94 million potential shares with 65% warrant coverage. The warrants have a fixed exercise price of 547 yen and a one-year term, potentially raising an additional 8.9 billion yen if exercised.

Of the upfront proceeds, 5.2 billion yen will go toward partial debt repayment, with the remainder used for bitcoin accumulation and general corporate purposes. Metaplanet currently holds 35,102 BTC, ranking fourth among publicly traded companies.