Metaplanet Completes 11th Series of Stock Acquisition Rights, Raises $66 Million
Japanese investment adviser Metaplanet Inc., listed on the Tokyo Stock Exchange under the ticker symbol 3350, has successfully concluded its 11th series of stock acquisition rights. This notable achievement has enabled the company to raise a substantial amount of capital, totaling 10 billion yen ($66 million). The stock acquisition rights were initially announced on August 6, when Metaplanet’s share price was approximately 700 yen.
Stock Acquisition Rights Program: A Comprehensive Overview
The stock acquisition rights program offered shareholders the opportunity to purchase new shares at a discounted rate of 555 yen per share. This initiative was aimed at providing investors with an attractive incentive to exercise their rights and increase their stake in the company. The program’s duration spanned from September 6 to October 15, giving shareholders sufficient time to make informed decisions regarding their investments.
Key Highlights of the Stock Acquisition Rights Program
- The total number of stock rights issued was 18.1 million.
- An impressive 72.8% of these rights were exercised by shareholders, representing 13,774 individuals.
- As a result of this exercise, Metaplanet issued 13.2 million new shares and raised 7.32 billion yen ($48.5 million).
Transfer of Unexercised Stock Acquisition Rights
Metaplanet has also announced the transfer of unexercised stock acquisition rights to various entities. These transfers include:
- MMXX Ventures Limited: Received 1.5 million units with no charge.
- CEO Simon Gerovich: Acquired 215,180 units without incurring any costs.
- EVO Fund: Transferred 4.9 million units.
The total capital raised following these transfers amounts to 10 billion yen ($66 million). The amount allocated to EVO Fund equates to 5.7 billion yen ($37.8 million).
Metaplanet’s Adoption of Bitcoin as a Reserve Asset
In May, Metaplanet adopted bitcoin as a reserve asset in an effort to mitigate volatility in the yen. This strategic decision has been beneficial for the company, with its shares experiencing a remarkable 642% year-to-date growth. As of now, Metaplanet holds 861.4 BTC.
Conclusion
The successful completion of Metaplanet’s 11th series of stock acquisition rights marks an important milestone in the company’s financial journey. This achievement demonstrates the company’s ability to effectively utilize its capital-raising strategies and adapt to changing market conditions. As a result, investors have been able to exercise their rights and increase their stake in the company, while Metaplanet has successfully raised $66 million in capital.