Japanese publicly-traded company Metaplanet has successfully raised 74.9 billion yen (equivalent to approximately $515 million) through the issuance of new shares.
The capital was obtained via the exercise of its 20th series stock warrants, resulting in 54 million new shares being issued. Metaplanet explicitly stated that the proceeds are allocated towards expanding its holdings of Bitcoin.
This issuance constitutes a partial exercise, representing 29% of the total 20th series warrants previously outstanding. Following this exercise, 1.31 million warrants remain available for potential future conversion into approximately 131 million additional shares.
The significant scale of this issuance means the newly created shares account for a substantial 92% of Metaplanet’s entire share base that existed prior to this fundraising event.