Metaplanet To Raise $150M And Buy More Bitcoin During Crash

Metaplanet has introduced a brand new two-tier most well-liked share construction designed to deepen the bitcoin-centric financing mannequin, by means of the launch of a senior class A instrument referred to as MARS and a brand new perpetual class B most well-liked partMERCURY, which is anticipated to lift roughly $150 million.

The transfer positions the Tokyo-listed firm as the most recent main bitcoin treasury firm to undertake a perpetual choice construction, following Technique and Attempt.

MARS — abbreviation of Metaplanet adjustable fee safety – turns into the highest layer of the corporate’s capital stack. The senior most well-liked inventory is non-dilutive, provides no conversion rights, and provides month-to-month dividends which might be adjusted primarily based on the place the inventory trades relative to its par worth.

In accordance with head of Technique Dylan LeClairThe design goals to provide Metaplanet an revenue automobile that mitigates volatility whereas defending widespread shareholders from dilution. MARS has a better precedence than each MERCURY and customary fairness.

Metaplanet: elevate cash, purchase bitcoin

The second layer of the construction, MERCURY, varieties the spine of Metaplanet’s new capital enhance. The corporate plans to difficulty 23.61 million Class B perpetual most well-liked shares at a value of ¥900 every, producing ¥21.25 billion (roughly $150 million) by means of a third-party allocation to institutional buyers.

The popular shares pay an annual mounted dividend of 4.9% on a notional strike of ¥1,000, with quarterly distributions and an preliminary payout of ¥40.40 for the interval ending December 31, 2025. The shares have a liquidation choice of ¥1,000 and a long-term elective conversion to widespread inventory – a hybrid profile that mixes mounted revenue with uneven advantages linked to bitcoin.

The providing comes as Metaplanet’s widespread share has fallen greater than 80% from all-time highs and now trades round ¥387, pushing its market-to-net asset worth ratio beneath par to 0.96. Traders at the moment worth the corporate at lower than the bitcoin it holds. Dynamic administration believes the brand new construction can assist appropriate the state of affairs by separating long-term capital suppliers from short-term fairness flows.

“MERCURY is junior to MARS, senior to widespread, and provides a hybrid profile: mounted revenue + uneven upside linked to BTC,” LeClair wrote on X.

Metaplanet, now the world’s fourth-largest company holder of bitcoin with 30,823 BTC, plans to allocate roughly ¥15 billion of the brand new capital to extra bitcoin purchases, with the rest earmarked for income-generating bitcoin methods and the redemption of excellent company bonds.

Executives have emphasised that recessions are strategic shopping for alternatives, and that constant bitcoin accumulation stays basic to the treasury mannequin.

In help of the overview, the corporate will convene a rare common assembly on December 22 to approve reductions in share capital and capital reserves, develop the approved variety of shares to three.83 billion and clear remaining financing gaps.

Metaplanet cancels a number of units of earlier share acquisition rights and points new rights to EVO FUND to streamline its construction previous to the specified rollout.

As soon as a Japanese firm rooted in resort administration, actual property and Web3 initiatives, Metaplanet has rapidly reinvented itself as a publicly traded Bitcoin treasury firm. Its core mission now’s to maximise the variety of Bitcoins per share, tapping the fairness and debt markets to lift capital that’s then transformed into BTC.

The corporate views Bitcoin accumulation as each an inflation hedge and a long-term worth driver for shareholders, making its treasury technique the centerpiece of its company id.

On October 1, Metaplanet (TSE: 3350, OTC: MTPLF) cemented its transformation into Asia’s “Bitcoin rocket ship” by buying 5,268 BTC for about $615.7 million, bringing its complete holdings to 30,823 BTC at a mean value of $107,912 per coin.

This makes it the fourth largest publicly traded Bitcoin treasury globally, surpassing its fiscal 2025 goal of 30,000 BTC and reaching a BTC return of 497% year-to-date. Third-quarter 2025 income rose 115.7% to ¥2.438 billion, prompting a doubling of fiscal 2025 income expectations to ¥6.8 billion.