Metaplanet, based in Tokyo (3350), issued 3.6 billion Yen (approximately $ 24.8 million) of bonds to finance additional Bitcoin (BTC) purchases after the assets of the Japanese hotel company exceeded 5,000 BTC.
According to an opinion from the company, the newly issued obligations have been fully sold in Evo Fund. The bonds have no interest and will be exchanged for nominal value on October 31, 2025, unless reimbursed earlier at the request of the bond holder.
The funds are reserved specifically for the acquisition of the BTC, in accordance with the plan revealed earlier this year when Metaplanet detailed a series of actions to acquire shares.
The company plans to finance the repurchase of the obligation thanks to the capital raised via the exercise of its rights to acquire shares, which means that the ultimate reimbursement can rely on the appetite of investors for the instruments linked to Metaplanet shares.
If the product of these rights exceeds certain thresholds, Metaplanet reserves the right to reimburse the parties of the obligation early. Metaplanet shares closed 428 yen each, up 8.6% during the last negotiation session.
