Metaplanet plans $745M capital raise to boost Bitcoin holdings amid yen decline
Metaplanet, a Japanese Bitcoin investment firm, plans to raise 116 billion yen ($745 million) by issuing 21 million shares to enhance its Bitcoin holdings. This capital raise is the largest equity offering in Asia specifically for Bitcoin acquisition. The shares will be offered with a 0% discount moving strike warrant structure, allowing buyers to purchase at a fixed price based on the previous day's closing price. If all warrants are exercised, total shares will increase by 21 million, resulting in a dilution rate of approximately 53.61% over two years. Metaplanet aims to grow its Bitcoin reserves from 1,762 BTC to 10,000 BTC by the end of 2025 and 21,000 BTC by 2026. The firm intends to convert raised funds into Bitcoin to preserve asset value amid a declining yen, allocating 111.3 billion yen for Bitcoin acquisition and 5 billion yen for treasury operations that generated over 500 million yen in profits last fiscal year. This strategy is designed to support long-term growth and enhance shareholder value.
