Japanese company Metaplanet has obtained shareholder approval for a major restructuring of its capital structure. Thanks to this. The company wants to raise up to $3.7 billion, which it plans to use exclusively for the purchase of bitcoin.
Metaplanet introduces two-class shares, paving the way for billions in bitcoin
At an extraordinary general meeting, shareholders approved an increase in the maximum number of shares to 2.7 billion. The introduction of a two-class securities structure. This move is intended to allow the company to open up to a wider range of investors. While protecting existing shareholders from excessive dilution of their holdings.
The new structure includes Class A shares, which will offer a fixed dividend yield for more conservative investors, and Class B shares, which will provide the option of conversion to common shares with a higher potential return. According to management, this model is intended to function as a defensive mechanism while paving the way for billions in financing dedicated exclusively to the bitcoin strategy.
Metaplanet wants to raise $3.7 billion for bitcoin
Metaplanet has announced an ambitious goal of acquiring a total of 210,000 BTC by 2027. To achieve this plan, the company wants to issue new shares through an international offering. Approval by shareholders has removed the main obstacle, but it is now crucial for the board of directors to determine the specific terms of the issue and for the regulatory authorities to approve the necessary documentation.
The biggest challenge for Metaplanet remains finding investors to help meet the $3.7 billion target. The company is facing unfavorable developments on the stock market – its shares are currently trading at $5.74, down 54% from June’s high of $12.75.
