Super League shareholders approved proposals tied to Metaplanet’s planned investment at an Oct. 16 annual meeting, but the transaction has not closed. The agreement calls for Metaplanet’s U.S. subsidiary to provide 2,100 BTC and $2.5 million in cash. The companies expect to close in the fourth quarter, subject to customary conditions and required Nasdaq filings.
Metaplanet would receive 44,859,400 common shares, convertible preferred stock and warrants covering up to 381 million additional shares. Its common shares and certain future shares would face a five-year lockup, subject to exceptions. After closing, Super League plans to become Superplanet Inc. and trade on Nasdaq as SUPA.
