Metaplanet, the company listed in Tokyo is now positioning itself as a bitcoin
-The focused cash company, launched a plan of $ 5.3 billion to buy more BTC by issuing 555 million shares through shares acquisition rights.
The agreement, says Metaplanet, is the largest emission of action mandates in Japan and the first time that strike mandates, where the price of the financial year adapts with the market, has been sold or higher than the current or above the country.
The offer is part of what the company calls its “555 million plan”, a follow -up of its previous “plan of 21 million”, which raised $ 600 million earlier this year and helped Metaplanet to raise nearly 9,000 BTC.
The new round aims to collect enough funds to increase its assets to more than 210,000 BTC by 2027, or around 1% of the total Bitcoin supply.
Metaplanet allocates almost 96% of the capital raised to the purchase of Bitcoin directly, with smaller amounts assigned to bond buyers and income -generating strategies such as the sale of sales options.
The company considers BTC as coverage against prolonged negative interest rates in Japan and weaken it.
To reduce dilution and protect shareholders, the issue includes a minimum exercise price and gives the company the right to temporarily suspend conversions. The shares will be sold in Evo Fund, a fund based in Cayman which supported the previous financing agreements of Metaplanet.
Metaplanet’s actions have increased by more than 275% so far this year that the company was following its BTC accumulation plan. They closed 1.6% during the negotiation session on Friday.
Read more: Metaplanet acquires 1,088 bitcoin to bring BTC Stash to more than $ 930 million
