Metaplanet to issue $329M convertible bonds to pay debt, fund share buybacks
Summary
Metaplanet plans to issue ¥52 billion ($329 million) in zero-coupon convertible bonds due in 2031. It will use about ¥23.6 billion to repay Bitcoin-backed loans and ¥28.3 billion for share buybacks, part of a program targeting up to ¥60 billion in repurchases. The financing is intended to reduce reliance on Bitcoin-collateralized borrowing without selling its 44,000 BTC holdings. Metaplanet shares fell 1.5% on Tuesday and are down 52.6% over 12 months.
