Metaplanet Achieves Record Capital Raise to Expand Bitcoin Reserves

Metaplanet (3350), a leading Japanese hotel investment company, has announced the largest capital raise in the history of the Asian equity markets, aimed at increasing its bitcoin (BTC) holdings. Through the issuance of 21 million shares via 0% discount moving strike warrants, Metaplanet has successfully raised 116 billion yen ($745 million). This strategy allows the warrant holders to purchase shares at the current market price, reducing dilution for existing shareholders.

This capital raise is a key part of Metaplanet’s “Bitcoin-first, Bitcoin-only” strategy, designed to continue growing its bitcoin reserves amidst the ongoing devaluation of the yen and Bitcoin’s record highs. The exercise price for the stock acquisition rights was set at 363 yen per unit ($2.33), with adjustable prices tied to market fluctuations.

Metaplanet now ranks as the fifteenth-largest publicly traded holder of bitcoin, with a total of 1,762 BTC. Following the announcement, the company’s stock rose by 3%, and its shares have appreciated by 16% year-to-date, underscoring investor optimism in its crypto-centric investment strategy.