Metaplanet Seeking to Raise 9.5 Billion Yen to Boost Bitcoin Holdings

MT Newswires Live11-28

Metaplanet (TYO:3350) is targeting to raise over 9 billion yen through its 12th series of stock acquisition rights to boost the group's Bitcoin holdings, according to a Thursday filing.

The Japanese investment firm plans to issue the rights to EVO FUND via third-party allotment on Dec. 16.

The issuance will involve 29,000 units of stock acquisition rights, with each unit entitling EVO FUND to purchase 100 common shares.

Each right will cost 614 yen, resulting in a total issuance price of 17.8 million yen.

Should EVO FUND exercise all these rights, Metaplanet could raise 9.5 billion yen.

Metaplanet plans to use most of the deal proceeds to buy more Bitcoin.

Price (JPY): $2333.00, Change: $+140, Percent Change: +6.43%

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