Japan’s Metaplanet plans to invest $134.6 million in Nasdaq-listed Super League Enterprise, turning the company into its U.S. Bitcoin treasury platform.
Metaplanet would take a 95.7% stake by contributing 2,100 Bitcoin worth about $132.1 million and $2.5 million in cash. The deal would give the Japanese Bitcoin investor a U.S.-listed vehicle for expanding its treasury strategy.
Super League plans to rename itself Superplanet and trade under the SUPA ticker after the deal closes. Existing shareholders would retain about 4.3% of the company.
Metaplanet will also receive 10-year warrants to buy as many as 381 million additional shares, with exercise prices ranging from $3 to $33.50.
Related: Bitcoin vs. Nasdaq: Is AI-Driven Capital Rotation Keeping BTC From Breaking Out?
“We seeded this investment with less than 5% of ou…
Read The Full Article Metaplanet Makes $135M US Bet to Build New Bitcoin Treasury Hub On Coin Edition.