Metaplanet (MTPLF) has announced the suspension of its 20th to 22nd series of stock acquisition rights from Oct. 20 to Nov. 17. This suspension affects warrants issued through a third-party allotment to Evo Fund and pauses the exercise of all remaining rights for a 20-day trading period.
The halt in stock sales is intended to prevent dilution of shareholder value, as the company's stock value closely aligns with its bitcoin holdings.
Metaplanet holds 30,823 BTC, making it the fourth largest corporate bitcoin holder globally.
Despite a rise in bitcoin prices, shares of bitcoin treasury companies like KindlyMD (NAKA) and Strive (ASST) have significantly dropped, following SPAC mergers that saw their share prices plummet by over 80%.
Metaplanet aims to manage capital formation strategically, maximize flexibility, strengthen its financial foundation, and support shareholder value. The company plans to develop new financial instruments and enhance its capital policy.
