Metaplanet, a Japanese company, recently issued its 14th Series of Ordinary Bonds, raising $21.25 million to fund additional Bitcoin purchases as part of its strategic pivot towards digital assets. The decision was made during a board meeting on May 9 and the bonds were fully subscribed by EVO FUND, as per the regulatory filing.
These zero-coupon bonds, with a face value of $625,000 each, are set to mature on Nov. 7, 2025. Bondholders have the option to request early redemption with a day’s notice, while Metaplanet can also trigger partial redemptions based on proceeds from its 15th and 16th Series Stock Acquisition Rights.
The company confirmed that the raised funds will be used to acquire Bitcoin, aligning with its financing and stock acquisition strategy outlined in a filing earlier this year. The unsecured and non-guaranteed nature of the bonds exempts the issuance from appointing a bond administrator under Japan’s Companies Act.
In a recent development, Metaplanet purchased an additional 555 BTC for around $53.4 million, taking its total Bitcoin holdings to 5,555 BTC valued at $481.5 million. With an average purchase price of $86,672 per Bitcoin, the company has become the largest public Bitcoin holder in Asia and ranks 9th globally.
The company’s stock has surged by over 2,200% since embracing the Bitcoin standard last year, driven by investor confidence in its digital asset strategy. Metaplanet aims to accumulate 10,000 Bitcoin by the end of this year and has announced plans to establish a US-based subsidiary, Metaplanet Treasury, in Florida to raise up to $250 million for further acquisitions and expansion.
Despite the significant bond issuance, Metaplanet expects minimal impact on its financial results for the fiscal year ending in December. The company remains committed to updating stakeholders on any material developments that may arise.
Metaplanet’s bold Bitcoin strategy mirrors a growing trend of corporates incorporating digital assets into their treasury reserves, reshaping capital management practices worldwide.