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Share Issuance and Disposal3350Metaplanet Inc.Financials (excluding banks)

Notice Regarding the Revision of the Minimum Exercise Price for the 27th Stock Acquisition Rights (with an Exercise Price Adjustment Clause, mNAV Clause, Minimum Exercise Price Adjustment Clause and Exercise Suspension Clause)

For the already-issued Series 27 Stock Acquisition Rights, the minimum exercise price, which varies according to conditions including the share price, will be lowered from ¥298 to ¥187. Other key terms, including the condition that the rights may be exercised only when mNAV is at least 1.01x, will remain unchanged.

Worth reading
55In focus
Scored from 3 of 5 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
111
¥ (reduction in the minimum exercise price)
Wording
Conditional
How definitive the wording is.

Details of issuance or disposal

Adjustment to the minimum exercise price of stock acquisition rights with exercise price adjustment provisions, an mNAV provision, a minimum exercise price adjustment provision and an exercise suspension provision

Specific use of funds
Acquisition of Bitcoin
Terms of the stock acquisition rights
Exercise price
Minimum exercise price: ¥298 before the adjustment and ¥187 after the adjustment. Exercise price adjustment provisions apply. The adjustment will be made pursuant to the minimum exercise price adjustment provision. The adjustment will take effect on 12 June 2026. Floor for the minimum price adjustment: Not disclosed. The condition that the rights may be exercised only when mNAV is at least 1.01x remains unchanged.
Most recent equity financing
Timing 1 April 2026 / Type Issuance of Series 27 Stock Acquisition Rights / Amount Not disclosed
Details of issuance or disposal
ItemDetails
Type of issuance or disposalAdjustment to the minimum exercise price of stock acquisition rights with exercise price adjustment provisions, an mNAV provision, a minimum exercise price adjustment provision and an exercise suspension provision
Specific use of fundsDetails Acquisition of Bitcoin / Amount Not disclosed / Scheduled timing of expenditures Not disclosed
Exercise priceMinimum exercise price: ¥298 before the adjustment and ¥187 after the adjustment. Exercise price adjustment provisions apply. The adjustment will be made pursuant to the minimum exercise price adjustment provision. The adjustment will take effect on 12 June 2026. Floor for the minimum price adjustment: Not disclosed. The condition that the rights may be exercised only when mNAV is at least 1.01x remains unchanged.
Most recent equity financingTiming 1 April 2026 / Type Issuance of Series 27 Stock Acquisition Rights / Amount Not disclosed
Items this document does not state (24)
Number of shares to be issued or disposed ofIssue price and disposal priceTotal issue valueAmount of funds to be raisedEstimated issuance expensesPayment dateIntended allotteeIntended allottee's holding policyDilution RateTotal number of issued sharesBasis for determining the amount to be paidExercise periodNumber of Stock Acquisition RightsTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentStock Split RatioProcedures under the Corporate Code of ConductMajor shareholders after the offeringImpact on Business Performance

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Due to changes in market conditions, including the decline in the price of Bitcoin, maintaining the minimum exercise price at ¥298 could make it difficult to raise funds flexibly even when mNAV reaches at least 1.01x. The company states that it will revise the minimum exercise price to maintain the effectiveness and flexibility of the rights as a means of raising funds, while continuing to restrict exercises when mNAV is below 1.01x, as well as exercises and dilution that are unlikely to contribute to increasing Bitcoin holdings per share.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Notice Regarding the Revision of the Minimum Exercise Price for the 27th Stock Acquisition Rights (with an Exercise Price Adjustment Clause, mNAV Clause, Minimum Exercise Price Adjustment Clause and Exercise Suspension Clause) | Metaplanet Inc. (3350) timely disclosure | Komori