Metaplanet Raises $515 Million, Blockchain Group Increases Capital by $4.8 Million
Metaplanet Inc (3350) and the Blockchain Group (ALTBG) have completed significant equity capital raises aimed at increasing their bitcoin holdings.
- Metaplanet raised 74.9 billion yen ($515 million) by exercising its 20th series of stock acquisition rights under the 555 Million Plan, issuing 54 million shares.
- This capital injection accounts for 10% of its overall target and follows a temporary 15% decline in stock price before a recovery to close up 4%.
- CEO Simon Gerovich highlighted the importance of this milestone on social media.
- The Blockchain Group raised 4.1 million euros ($4.8 million) through an equity issuance agreement with TOBAM, selling shares at an average price of 5.085 euros each.
- This move supports their strategy to enhance bitcoin holdings per share; they currently possess 1,653 BTC.
- Shares of the Blockchain Group fell 3.7% to 4.785 euros following the announcement.