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Quick take:
Metaplanet plans to use the capital to add to its bitcoin treasury, which currently stands at 17,132 BTC.
The company previously announced plans to accumulate up to 210,000 BTC by the year 2027.
The shelf registration spans two years, beginning August 8, 2025, through August 8, 2027.
Metaplanet, the Japan-based strategic Bitcoin portfolio company, said Friday that it has filed a shelf registration with the Japan Exchange Group to issue 555 billion Japanese yen in perpetual preferred shares, approximately $3.7 billion, to go towards boosting its strategic Bitcoin treasury.
The fundraising is about 75% of Metaplanet’s current market capitalisation of just under 730 billion yen.
The company plans to buy more bitcoin, boosting its current holding of 17,132 BTC as part of its goal to accumulate 210,000 BTC by the year 2027.
According to the announcement, the shelf registration spans two years, starting August 8, 2025, through August 8, 2027, allowing Metaplanet to issue the preferred shares in portions across the period depending on market conditions.
Metaplanet, however, made it clear that the offer is only tentative at this point, with “no specific plan for the issuance of the Preferred Shares is currently in progress, and it is uncertain whether such issuance will take place.”
The issuance is also subject to the stakeholders’ approval of a new proposal, submitted as part of the shelf registration filing, which seeks to increase authorized shares from 1.61 billion to 2.723 billion. The vote is expected to take place during an extraordinary general meeting (EGM) scheduled for September 1, 2025.
Although Metaplanet stated there is a chance that the issuance may not be approved, its stock price fell by 7.65% on Friday, after the news.
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