Metaplanet has secured shareholder approval to acquire a 93.7% stake in Nasdaq-listed Super League through a transaction involving 2,100 Bitcoin and $2.5 million in cash. The deal would give the Japanese Bitcoin treasury company greater access to US capital markets, helping it raise funds for future cryptocurrency purchases. Super League plans to rebrand as Superplanet and adopt the Nasdaq ticker SUPA.
Metaplanet Targets US Capital Markets
Under the agreement, Metaplanet will receive 44.86 million common shares, convertible preferred stock, and warrants. The transaction also grants Metaplanet significant governance rights, including the power to appoint most board members.
Additionally, Superplanet plans to finance Bitcoin acquisitions through perpetual preferred stock offerings rather than relying mainly on debt. Metaplanet could also invest up to $210 million in junior preferred shares to support the strategy.
Superplanet Plans to Expand Bitcoin Holdings
Metaplanet holds approximately 44,000 BTC, making it the second-largest publicly traded corporate Bitcoin holder behind Strategy. Hence, the proposed US expansion could strengthen its fundraising options beyond Japan’s yen-denominated markets.
Moreover, Metaplanet recently proposed allocating up to 15% of its assets toward strategic investments. Consequently, the Superplanet transaction could support its broader Bitcoin accumulation plans while diversifying its financing sources. Shareholders’ approval marks a significant step toward completing the company’s planned transformation.
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