Metaplanet Introduces Preferred Shares to Expand Bitcoin Holdings
- Metaplanet plans to issue preferred shares named “Mars” and “Mercury” to raise additional funds.
- The initial issuance of “Mercury” aims to raise ¥21.2 billion ($135 million) from institutional investors.
- “Mercury” offers a fixed annual dividend of 4.9% and can be converted into common shares if the stock price exceeds ¥1,000.
- Metaplanet’s market cap slightly exceeds its Bitcoin holdings, valued at $2.67 billion with $30,823 Bitcoin.
- The company’s stock rose by 3% to ¥387 ($2.46) despite halving over the past six months.
Metaplanet is leveraging preferred shares as a strategic move to bolster its Bitcoin treasury while minimizing dilution from common share issuances. The introduction of “Mars” and “Mercury” reflects an innovative approach in corporate finance within the cryptocurrency sector.
The issuance of “Mercury” is expected to generate significant capital for Metaplanet, aligning with its strategy to expand its Bitcoin holdings amid fluctuating market conditions (Source).
