Metaplanet Shares Rise 5.7% Following International Stock Offering Announcement

Metaplanet Inc. (3350) shares increased by 5.7% after announcing plans to issue new shares to foreign investors.

The company aims to issue up to 555 million new shares through an international offering, pending shareholder approval on Sept. 1.
The anticipated raise of approximately 130.3 billion yen ($880 million) will primarily fund bitcoin purchases and its bitcoin income generation business.
This move targets enhancing bitcoin net asset value (NAV) and strengthening relationships with global institutional investors.
From Aug. 14 to Aug. 26, 275,000 rights were exercised, leading to the issuance of 27.5 million new shares at prices between 966 yen and 834 yen.
Total shares outstanding rose to 739.7 million as of Aug. 26.
Metaplanet redeemed 5.25 billion yen of its 19th Series of Ordinary Bonds early, reducing liabilities ahead of maturity in December.
The company will suspend the exercise of the 20th, 21st, and 22nd Series of Stock Acquisition Rights from Sep. 3 to Sept. 30, retaining flexibility for adjustments.

Shares closed at 890 yen.