Moon Inc. (1723) Announces Subscription in Fund Targeting Bitplanet Shares

Moon Inc. (1723) issued a supplemental announcement regarding its subscription of interest in a single-asset fund focused on acquiring approximately 49% of Bitplanet Co., Ltd. The fund, which raised a total of US$40.3 million from 19 investors, received US$1.2 million from Moon Inc. as part of the transaction. According to the announcement, the investment period for the fund is 12 months from the closing date of 26 August 2025, and no further capital contributions will be called.

Moon Inc. indirectly holds about 1.46% of Bitplanet’s total issued shares through this subscription. The company stated that the chosen investment size aligns with its overall capital allocation strategy, balancing diversification and liquidity. The subscription provides a strategic entry point into the South Korean market via cooperation with Bitplanet, a listed entity in the Korean security software and information technology sector.

The announcement noted that Bitplanet’s audited figures for the year ended 31 December 2024 show a net loss of KRW1,133 million, an improvement compared to the net loss of KRW8,550 million a year earlier. Bitplanet held net assets of KRW36,244 million as of the same date. Moon Inc. emphasized that the subscription arrangement offers access to Bitplanet’s networks and affiliated business partners in South Korea, potentially enabling future distribution channels for Moon Inc.’s pre-paid products.

In conjunction with the subscription, Moon Inc. disclosed a non-binding memorandum of understanding with Bitplanet. Under this arrangement, Bitplanet intends to serve as an exclusive wholesale partner in South Korea for Moon Inc.’s various pre-paid cards and related offerings. Bitplanet plans to purchase pre-paid Bitcoin Cards and pre-paid SIM cards over the next three years, with further terms and conditions to be formalized in a definitive agreement. The announcement also included information on the ultimate beneficial owners of certain fund members and the sellers of Bitplanet shares involved in the transaction.