Metaplanet Introduces Bitcoin-Backed MARS and MERCURY Preferred Shares
- Metaplanet aims to raise $150 million through the issuance of MERCURY shares.
- MARS shares offer adjustable monthly dividends based on share price, while MERCURY provides a fixed annual dividend rate of 4.9%.
- The company is the third globally to adopt a perpetual preferred stock structure backed by Bitcoin.
- Recent corporate actions include canceling previous securities series and scheduling an extraordinary general meeting for December 22, where changes to capital structure will be voted on.
- Metaplanet has also initiated a share buyback program and secured a $100 million loan against its Bitcoin holdings.
This launch of MARS and MERCURY shares represents a significant step in diversifying investment opportunities within the cryptocurrency sector, particularly through products linked to Bitcoin. The upcoming extraordinary general meeting will address critical changes in capital structure, reflecting Metaplanet’s proactive approach in adapting to market dynamics.
With plans to raise $150 million via MERCURY shares and the introduction of innovative financial instruments, Metaplanet is positioning itself as a key player in crypto-backed investments.(Source)
