Using the 12th Stock Acquisition Rights, Metaplanet obtains $62 million to purchase a Bitcoin portfolio.

The Japanese investment company Metaplanet has revealed its intention to raise $62 million, or 9.5 billion Japanese yen, through a stock purchase program. This action is an additional step towards expanding its Bitcoin holdings. It supports the business's strategic goal of minimising exposure to the weakening Japanese yen while taking advantage of Bitcoin's potential for long-term growth.

Under a third-party allotment mechanism, the company's Board of Directors authorised the transfer of 29,000 units of its 12th Stock Acquisition Rights to EVO FUND, an investment organisation established in the Cayman Islands.Purchasing Bitcoin via Stock Scheme

The money raised will mostly be used to buy more Bitcoin, bolstering Metaplanet's current 1,142 BTC treasury, which is worth more than $109 million as of November 28, 2024. The offering's design allows for dynamic capital raising, with the exercise price of the stock acquisition rights being modified in response to market conditions. Although the method will result in an estimated 8% dilution of current shares, this approach permits flexibility while preventing excessive dilution.

The corporation claims that this campaign emphasised their goal of being a treasury management organisation that prioritises Bitcoin.

"A Bitcoin-first, Bitcoin-only strategy for treasury management is our top priority. We have stated unequivocally that we plan to reduce exposure to a declining yen while gradually growing our Bitcoin holdings through the use of debt and sporadic stock issuance.

Japan's economic climate is also taken into account in Metaplanet's strategy, since the country's ongoing inflation and yen devaluation give its Bitcoin-focused treasury reform even more immediacy. It is anticipated that the money will be used between December 2024 and June 2025, with a lower percentage going towards operating costs.Methods for Purchasing Bitcoin

Metaplanet began acquiring Bitcoin in April, closely following MicroStrategy's Bitcoin-focused financial strategy. The company has made a daring commitment to cryptocurrency investing by accumulating 1,142 Bitcoin to date, which is worth over $109 million.

At its board meeting on November 18, the Tokyo-listed business approved a one-year debt issuance of ¥1.75 billion, or approximately $11.3 million, at 0.36% annual interest earlier this month. Proceeds will help the company's plan to increase its cryptocurrency holdings by funding Bitcoin acquisitions, as previously reported. Redeemable at face value, the bonds redeemable at face value on November 17, 2025, will be drawn after guarantee arrangements are finalized.

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