Metaplanet Wins Approval to Issue Dividend-Paying Preferred Shares to Overseas Investors
The new structure seeks to funnel institutional capital into its sizable Bitcoin treasury via income-focused preferred classes.
Overview
- Shareholders approved five proposals enabling Class A and Class B preferred shares, reclassifying reserves for dividends and buybacks, and allowing issuance to overseas institutions, with NBIM voting in favor.
- Class A, branded the Metaplanet Adjustable Rate Security, will pay a monthly floating-rate dividend tailored to institutional income requirements.
- Class B will pay quarterly dividends and includes a 10-year issuer call at 130% of face value plus an investor put if a qualifying IPO does not occur within one year.
- Metaplanet shares rose about 4.16% on the Tokyo Stock Exchange following the capital-structure approvals.
- The company is expanding international access through planned American Depositary Receipts and a Miami subsidiary to reach U.S. institutional investors.