This post was originally published on this site.
- Japanese company wants to hold $18.5 million in Bitcoin by end of 2027.
- Firm looking to equity market for capital.
- Board will let overseas investors buy some shares.
Metaplanet has moved a step closer to its target of holding 210,000 Bitcoin, currently worth $18.5 million, by the end of 2027, despite increased pressure on digital asset treasuries.
The Japanese firm’s strategy director Dylan LeClair wrote on X that an extraordinary shareholder meeting voted in favour of several equity-related proposals that will help the company raise money for more Bitcoin purchases.
The move will effectively let Metaplanet use financial tools to buy more Bitcoin without immediately diluting the shares of its existing equity holders.
But the looming threat of crypto winter is causing many to question what will become of DATs in the year ahead.
Analysts are sounding the alarm bells over the long-term viability of DATs. Many treasury firms now trade below the value of their crypto assets.
Even so, Japanese firms continue to forge ahead with their Bitcoin-buying activities. In recent days, two smaller Tokyo Stock Exchange-listed DATs have spent around $2.6 million on Bitcoin, earmarking more spending ahead in 2026.
Equity market moves
LeClair said the Metaplanet board has effectively doubled the number of Class A and Class B shares the company can issue.
In the financial world, Class A shares are typically more expensive, but include voting rights. Class B shares, meanwhile, do not usually grant holders voting rights, but are often more accessible and cheaper.
The new shares will also include floating-rate features, whereby their interest rates will adjust periodically according to various market benchmarks. Such shares usually offer investors lower initial costs, along with variable future payments.
They will also pay quarterly dividends, meaning investors receive interest-like payouts four times per year.
Both of these features are designed to make Metaplanet shares more attractive to investors seeking regular returns or investment funds that focus on yield-paying shares.
The firm will also look to make its Class B share more attractive still by adding more features to its “preferred shares,” including a 10-year 130% “issuer call.”
This means Metaplanet can offer to buy the Class B shares back from an investor for 130% of its issuance price.
And a further feature will let investors exercise “put rights,” the right to sell shares at a predetermined price if the company cannot carry out an initial public offering in the space of one year.
Wooing foreign investors
LeClair said the board will also reduce the company’s capital stock and capital reserves to help it raise funds to pay the new preferred stock dividends and come good on share buyback obligations.
The board has also approved the issuance of Class B shares to overseas institutional investors. This will let international fund managers trade Metaplant stock.
Tim Alper is a news correspondent at DL News. Got a tip? Email him at tdalper@dlnews.com.
Related Topics