In a groundbreaking move, Metaplanet (3350), a prominent Japanese hotel investor, has set a new record by announcing the largest capital raise in the history of Asian equity markets, with the intent of acquiring bitcoin (BTC).
This ambitious initiative involved the issuance of 21 million shares through 0% discount moving strike warrants, resulting in an impressive capital raise of approximately 116 billion yen (roughly $745 million). This strategy enables holders to purchase shares at an exercise price that reflects the current market value, thereby minimizing potential dilution for existing shareholders.
The issuance aligns with Metaplanet’s defining strategy: “Bitcoin-first, Bitcoin-only.” This approach focuses on bolstering bitcoin holdings in light of the continuing devaluation of the yen and the ascent of Bitcoin prices, which have reached all-time highs. The stock acquisition rights were priced at 363 yen per unit ($2.33), with adjustable exercise prices linked to market performance.
Currently, Metaplanet ranks as the fifteenth largest publicly traded holder of bitcoin, boasting a substantial portfolio of 1,762 BTC. Following the announcement, Metaplanet’s stock experienced a notable increase, closing 3% higher, while its shares have appreciated by 16% year-to-date.
As the market continues to evolve, Metaplanet’s strategic focus on bitcoin acquisition may well set a precedent for future investor behavior within the region. This capital raise not only highlights the potential of bitcoin in modern investment strategies but also reinforces the growing trend of traditional industries embracing digital assets.
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