Japanese investment firm Metaplanet has successfully raised 10 billion yen ($66 million) by completing its stock acquisition rights program. This capital injection comes as the company continues to aggressively accumulate Bitcoin (BTC).
Key Takeaways:
- Over 13,700 shareholders participated, buying new shares at a discounted price.
- The raised capital, combined with transferred rights, reached 10 billion yen.
- Metaplanet's recent activities suggest further Bitcoin investments.
Strong Shareholder Participation:
Metaplanet CEO Simon Gerovich expressed his appreciation to shareholders for their support in the stock acquisition exercise. The program allowed existing shareholders to buy new shares at a discount.
Discounted Purchase & Rights Transfer:
- The offering price was 555 yen per share, lower than the August 6th price of around 700 yen.
- Unexercised rights were transferred at no cost to key stakeholders, including CEO Gerovich and the EVO Fund. This transfer contributed significantly to the total raised capital.
Focus on Bitcoin Investment:
- While Metaplanet hasn't officially announced plans for the new funds, its recent Bitcoin purchases suggest further investments.
- The company began acquiring Bitcoin in May as a strategic reserve asset.
- Since then, Metaplanet has been on a buying spree, acquiring over 861.4 BTC as of today.
Metaplanet's Bullish Stance:
- This capital raise, combined with the rising Bitcoin price, has boosted Metaplanet's stock.
- The company's share price has seen a 6.53% increase in the past month and a staggering 593.75% year-to-date.
Looking Forward:
Investors and crypto enthusiasts will be watching closely to see how Metaplanet utilizes the newly raised funds. The company's strong focus on Bitcoin suggests that further cryptocurrency acquisitions could be on the horizon.
October 2024, Cryptoniteuae