At an extraordinary meeting on August 5, investors supported the proposal to expand authorized capital to 2,7 billion shares and introduce a new system of preferred assets. This opens the way for the company to potentially raise up to 555 billion yen ($3,7 billion) for further bitcoin accumulation.
The plan involves splitting capital into two classes:
- Class A shares will provide a fixed dividend aimed at investors who prefer stable returns.
- Class B shares are a riskier instrument with the option to convert into common stock, which could deliver higher gains if the bitcoin accumulation strategy succeeds.
Metaplanet calls this scheme a protective mechanism that allows the company to attract funds without excessive dilution of existing shareholders’ stakes.
The company officially announced its intention to raise $3,7 billion on August 1. The funds are planned to be used to purchase 210,000 BTC by the end of 2027. Metaplanet has already started an international placement of new shares, which was followed by the extraordinary meeting.
Investor approval became a key stage in the internal coordination of changes. The board of directors must now approve the exact issuance parameters and submit the necessary filings to Japanese regulators.
The fundraising coincided with a decline in Metaplanet’s share price. According to Yahoo Finance on August 6, the stock was trading at around $5,74 – 54% below the June peak of $12,75.
Despite the decline in capitalization, the company continues to grow its reserves: on September 1, Metaplanet purchased an additional 1,009 BTC worth about $112 million. Its balance sheet now holds 20,000 BTC – roughly $2,2 billion at the current rate. This makes Metaplanet the sixth-largest corporate bitcoin holder in the world.
This post is for informational purposes only and is not advertising or investment advice. Please do your own research before making any decisions.