Overview
- Shareholders authorized up to 2.7 billion shares and approved a dual-class preferred stock system, laying the framework for large equity and preferred issuances.
- Separately, investors cleared an overseas offering of 550 million shares that the company estimated could raise about $884 million for additional Bitcoin purchases.
- Metaplanet disclosed a 1,009 BTC buy that lifted its treasury to 20,000 BTC, ranking sixth among public companies globally and first in Asia, according to BitcoinTreasuries.net.
- The company’s earlier warrant-driven funding “flywheel” has slowed as the stock has dropped 54% since mid-June, reducing cash generated per exercise and complicating further buys.
- Next steps include setting issuance terms and filing detailed registrations, with recent FTSE Russell mid-cap inclusion potentially expanding index-driven investor exposure.