After acquiring a U.S. Nasdaq-listed company, Metaplanet is considering a plan to issue and publicly offer new perpetual preferred shares separate from its common stock to fund additional BTC acquisitions. The target company is Super League Enterprise, which is scheduled to change its corporate name to Superplanet after the transaction closes.
In supplementary materials, Metaplanet identified Nasdaq-listed Super League Enterprise as the company in which it plans to invest and which it plans to consolidate as a subsidiary, and indicated that the company’s corporate name would be changed to Superplanet after the transaction closes.
The funding method under consideration involves issuing and publicly offering new perpetual preferred shares separate from the company’s common stock. The plan is intended to make funding for its BTC treasury business in the United States concrete.
The perpetual preferred shares would be positioned as “digital credit.” The company explained that it aims to build a similar structure in the United States, using Strategy’s approach as a precedent.
On 19 August, the day after the announcement, Metaplanet’s share price temporarily rose to ¥239, approximately 4.8% above the previous closing price. However, issuance has not been decided at this time, and the issuance would require approval from Superplanet’s board of directors.