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Metaplanet Accelerates Bitcoin Acquisition With New $31M Bond Issuance

Metaplanet Inc. plans to issue ¥5.0 billion ($31.9 million) in ordinary bonds to accelerate its Bitcoin buys.

The company announced this in a December 20 post on X, adding that the repayment will be made from exercising its 12th series stock acquisition rights.

Details of the 5th Series Ordinary Bonds

In a separate pos, Metaplanet CEO Simon Gerovich said the money accrued from the offering will be used to push forward the buying of BTC initially planned for 2025 to before the end of 2024.

“These funds will accelerate Bitcoin purchases originally planned for 2025 into the current year.”

The bond issuance consists of ¥5 billion in total, divided into units of ¥250 million each. The offering will carry no interest and be redeemed at face value, with each bond worth 100 yen per 100 yen principal amount. The scheduled issuance date is December 20, 2024, with the maturity date set for June 16, 2025.

The entire security will be allocated to EVO FUND, a private investment entity, and will be subject to redemption provisions. Further, the bonds can be redeemed early if EVO FUND gives written notice at least one business day in advance or if funds from the exercise of the Tokyo-listed firm’s 12th series stock acquisition rights reach a specified threshold.

This development follows Metaplanet’s pengumuman on December 17, 2024, of a separate ¥4.5 billion ($28.7 million) bond issuance that will also mature on June 16, 2025. It means that in just a few days, the company has raised a total of ¥9.5 billion, or about $60.6 million.

Bitcoin-Centred Approach

Metaplanet’s Bitcoin-centred approach aligns with its strategic focus on adopting the asset as a hedge against economic instability. In June 2024, it acquired 23.351 BTC for approximately $1.6 million, followed by 42.4 BTC for $2.4 million, bringing its total holdings to 203.7 BTC.

The company continued to increase its holdings, purchasing 57.273 BTC for $3.4 million and 106.976 BTC worth $6.6 million in October. Additionally, it made a significant purchase of 156.7 BTC in October, valued at $10.4 million.

In addition to its buying strategy, the Japanese investment firm recently established a new Bitcoin treasury operations business line. This division will focus on purchasing, holding, and managing the cryptocurrency through various financial instruments, including loans, equity issuances, and convertible bonds.

According to BitcoinTreasuries data, as of December 20, 2024, the outfit holds 1,142 BTC, valued at approximately $109.6 million. Its stock has also seen remarkable growth, with shares trading at ¥3,575, reflecting a 58.05% increase in the past month and a 2,134.38% rise year-to-date, based on data from Google Finance.

Pos Metaplanet Accelerates Bitcoin Acquisition With New $31M Bond Issuance muncul pertama kali di CryptoPotato.


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