Super League shareholders approved Metaplanet’s proposal to create a U.S. Bitcoin treasury company and rename Super League as Superplanet. The transaction has not closed; the name change and Metaplanet’s investment depend on closing.
Metaplanet’s head of Bitcoin strategy said the firm would contribute 2,100 BTC and $2.5 million in cash at closing. In exchange, it would receive shares giving it almost 94% of Superplanet’s common stock, preferred stock carrying governance rights, and warrants representing up to $3.4 billion in potential equity capital. Metaplanet’s common shares would be subject to a five-year lock-up.
