TLDR
- Metaplanet will contribute 2,100 Bitcoin and $2.5 million cash to Super League under the deal.
- Metaplanet expects to control 95.7% of Super League’s outstanding common shares after the transaction closes.
- Super League will become Superplanet and operate as Metaplanet’s Nasdaq-listed U.S. Bitcoin treasury platform after closing.
- Superplanet will launch with 2,100 BTC while retaining Super League’s existing gaming media business operations.
- Superplanet plans to raise U.S. capital while Metaplanet continues funding Bitcoin accumulation through Japanese markets.
Metaplanet plans to invest 2,100 Bitcoin and $2.5 million in Super League, creating a Nasdaq-listed U.S. Bitcoin treasury platform alongside its existing operation in Japan.
Metaplanet Takes 95.7% Stake in Super League
Tokyo-listed Metaplanet has signed a definitive agreement to invest 2,100 BTC, valued at about $132.1 million when the deal was announced, and $2.5 million in cash into Super League Enterprise. The transaction values the total contribution at roughly $134.6 million.
In return, Metaplanet will receive 44.86 million newly issued Super League common shares priced at $3 each, along with preferred shares and warrants. After closing, Metaplanet expects to own about 95.7% of the company’s outstanding common stock. That figure would stand at about 93.6% if existing pre-funded warrants are exercised.
Super League will then change its name to Superplanet Inc. and plans to trade under the ticker SUPA. The company will remain listed on Nasdaq, while Metaplanet will continue trading in Japan. Super League’s existing gaming media operations will also remain part of the business.
The companies described the transaction as a private placement rather than a reverse takeover or SPAC deal. Metaplanet will use Bitcoin already held on its balance sheet instead of raising third-party capital to fund the BTC contribution.
Superplanet to Hold 2,100 Bitcoin at Launch
Superplanet will begin its new structure with 2,100 BTC, while Metaplanet currently holds 43,000 BTC. The contributed Bitcoin represents nearly 5% of Metaplanet’s current holdings and will remain within the consolidated group after the deal closes.
Metaplanet CEO Simon Gerovich said, “We’ve built one of the world’s largest Bitcoin treasuries from Japan. Superplanet is how we build in America, the deepest capital market in the world.”
The structure gives Metaplanet two listed vehicles for raising capital. Superplanet will target U.S. capital markets through Nasdaq, while Metaplanet will continue raising funds through the Japanese market. Superplanet’s Bitcoin holdings will also appear within Metaplanet’s consolidated financial statements.
Superplanet Plans Bitcoin-Backed Capital Strategy
Superplanet plans to use its Bitcoin holdings and access to U.S. markets to support future capital raising. The company may issue securities such as perpetual preferred stock without increasing the number of common shares.
Under that approach, new capital could fund additional Bitcoin purchases while limiting common-share dilution. Superplanet could also use Bitcoin as collateral for preferred securities, while income from its operating business could help cover dividend payments.
The transaction forms part of Metaplanet’s wider effort to develop Bitcoin-based financial operations beyond direct BTC accumulation. The company has also acquired Siiibo Securities in Japan as it works on Bitcoin-backed fixed-income products under its Project Nova strategy.
Super League shares jumped as much as 80% during early Tuesday trading after the transaction was announced before giving back part of those gains. Metaplanet shares also advanced during the session as investors assessed its planned expansion into the U.S. market.
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