Metaplanet, a leading company in the cryptocurrency space, recently made headlines by upsizing its international share offering to fund additional Bitcoin purchases. The company raised approximately $1.4 billion by increasing the offering from 180 million to 385 million shares in response to strong investor demand.
The shares were priced at 553 yen ($3.75) each, with a 9.93% discount from the reference price of 614 yen ($4.16). This move increased Metaplanet’s total outstanding shares from 755.9 million to 1.14 billion shares. President Simon Gerovich confirmed the finalization of the offering on social media.
Metaplanet plans to allocate 183.7 billion yen ($1.25 billion) for Bitcoin purchases and 20.4 billion yen ($138.7 million) for its Bitcoin income generation business between September and December. The company aims to acquire 210,000 Bitcoin by 2027, representing approximately 1% of Bitcoin’s total supply.
Currently, Metaplanet holds 20,136 Bitcoin valued at over $2.24 billion, making it Asia’s largest corporate Bitcoin holder and the sixth-largest globally, surpassing Riot Platforms. In September alone, the company acquired 1,145 BTC for approximately $127.2 million.
Metaplanet’s transition to Bitcoin treasury management in May 2024 as part of its “Strategic Treasury Transformation and Bitcoin Adoption” policy has been successful. The company’s Bitcoin income generation business recorded 1.904 million yen (nearly $13 million) in sales revenue during the second quarter of fiscal year 2025, showcasing its efforts to generate yield from its Bitcoin holdings.
The share offering structure includes underwriter purchase rights for up to 375 million shares, with an additional 180 million shares available through overallotment options. The final settlement and delivery are scheduled between September 16 and 17.
Metaplanet’s aggressive Bitcoin accumulation strategy aligns with a growing trend of corporations adopting BTC as a treasury asset, following the lead of companies like Strategy and other institutional adopters in the cryptocurrency space.
This move further solidifies Metaplanet’s position as a key player in the cryptocurrency market, showcasing its commitment to innovation and growth in the digital asset space.