Crypto Daily – Japanese investment firm Metaplanet has announced plans to raise 9.5 billion yen (approximately $62 million) through a stock acquisition initiative to expand its holdings.
Stock Acquisition Plan
On November 28, Metaplanet confirmed it would issue its 12th Stock Acquisition Rights through a third-party allotment to EVO Fund, an investment firm based in the Cayman Islands. The issuance, totaling 29,000 units, is scheduled to run from December 16, 2024, to June 16, 2025, subject to approval under Japan’s Financial Instruments and Exchange Act.
The firm stated that the majority of the funds would be allocated to purchasing additional Bitcoin. The firm, which currently owns 1,142 Bitcoin valued at over $109 million, intends to use the proceeds to strengthen its treasury amidst a weakening yen and rising Bitcoin prominence. If the entire $62 million is raised, Metaplanet could potentially acquire around 652 Bitcoin, based on current market prices of…
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