Hong Kong · Bitcoin · Japan · Cointelegraph
Metaplanet cuts Series 10 stock pool by 41%, gears up Hong Kong subsidiary
Compiled by KHAO Editorial — aggregated from 3 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Metaplanet will cut 131.3 million potential shares and form a $1 million Hong Kong subsidiary for trading in Bitcoin, equities and credit products.
Key facts
- In June, Metaplanet agreed to acquire Siiibo Securities in a 2.1 billion yen ($13.1 million) deal to form a securities arm
- On Aug. 31, Metaplanet disclosed that Gerovich exercised rights to acquire 92,000 shares under the Series 10 pool
- Metaplanet will cut 131.3 million potential shares and form a $1 million Hong Kong subsidiary for trading in Bitcoin, equities and credit products
- Metaplanet also announced Friday plans to establish Metaplanet Asset Management Asia Limited in Hong Kong with $1 million in initial capital later in September
Summary
Metaplanet CEO Simon Gerovich said the Japanese Bitcoin treasury company will further amend its Series 10 stock acquisition rights amid shareholder backlash over dilution concerns. Metaplanet will reduce the number of potential shares underlying the rights by 131.3 million, from 319.464 million to 188.19 million, by resetting the conversion ratio from 1:696 to 1:410, the level before its September 2025 international share offering, Gerovich announced in a Friday X post. Shares already delivered through prior exercises will not be returned or canceled. The change will extinguish more than $220 million in warrant value and increase the company’s Bitcoin per fully diluted share by about 8.8%, according to Gerovich.