Metaplanet (3350), the Japanese hotel investor, has announced the largest capital raise in Asian equity market history to buy bitcoin (BTC).
Metaplanet has issued 21 million shares through 0% discount moving strike warrants, raising approximately 116 billion yen ($745 million). This allows holders to buy shares at an exercise price equal to the market price, minimizing dilution for existing shareholders.
The issuance is part of the company’s “Bitcoin-first, Bitcoin-only” strategy, which aligns with its plans to continue increasing its bitcoin holdings amidst the yen’s devaluation and Bitcoin’s all-time high.
The stock acquisition rights were issued at 363 yen per unit ($2.33) and have adjustable exercise prices based on market value.
Metaplanet is the fifteenth largest publicly traded bitcoin holder, with 1,762 BTC. It closed 3% higher on the day, and its shares are up 16% year-to-date.
Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Trump reinstated the Hormuz blockade, sending oil higher and rate-hike bets up, reversing the peace…
Coins from the Farace and BTC-e seizures moved through fresh wallets before landing on the…
Solo Bitcoin mining has surged, with 24 blocks found in the past 12 months, a…
Major cryptocurrencies have dropped by 2% or more in 24 hours as traders boosted bets…
Bitcoin Magazine Bitwise Sees a Bottom in Bitcoin’s Worst Vibes Yet: ‘Darkest Before the Dawn’ …
Strategy now has more than 20 months of coverage for preferred-stock dividends and debt interest.Read…