Metaplanet Shares Jump 6% on International Stock Sale, Financing Moves

Metaplanet Inc. (MTPLF) rose 5.7% on Wednesday after the Tokyo-based company said it plans to sell shares to foreign investors, provided updates on recent capital actions and said it will temporarily suspend warrant exercises.

The company plans to issue up to 555 million new Tokyo-traded shares through an international offering, subject to shareholder approval at an extraordinary general meeting on Sept. 1, it said in a post on X.

The offering is expected to raise around 130.3 billion yen ($880 million), with the majority allocated to bitcoin (BTC) purchases and a smaller portion to its bitcoin income generation business. The move is intended to expand bitcoin net asset value (NAV) and strengthen ties with global institutional investors.

Metaplanet (MTPLF) also reported on progress on the exercise of its 20th Series of Stock Acquisition Rights. Between Aug. 14 and Aug. 26, investors exercised 275,000 rights, resulting in the issuance of 27.5 million new shares at prices ranging from 966 yen to 834 yen.

The new equity increased the company?s total shares outstanding to 739.7 million as of Aug. 26. In conjunction, Metaplanet (MTPLF) redeemed 5.25 billion yen of the 19th Series of Ordinary Bonds early, adding to redemptions in July and August, further reducing liabilities ahead of the bonds? scheduled maturity in December.

Finally, the company said it will suspend the exercise of the 20th, 21st, and 22nd Series of Stock Acquisition Rights from Sep. 3 to Sept. 30. Unexercised rights stand at 360,000 units for the 20th Series and 1.85 million units each for the 21st and 22nd Series. Metaplanet (MTPLF) noted it retains flexibility to resume or adjust the suspension if needed.

The company's shares closed at 890 yen.