Metaplanet raises $531M, unveils new Bitcoin funding model
6.7 Investments Metaplanet raised up to $531M to expand Bitcoin holdings, introduced mNAV-linked warrants to protect shareholders, and targets 100,000 BTC by 2026. Its stock rose 5% as Bitcoin topped $73,000.
Metaplanet has updated its capital allocation strategy while reaffirming its commitment to Bitcoin, currently holding around 35,100 BTC. The company secured approximately $255 million from global institutional investors via a new share placement at a 2% premium. Additionally, fixed-strike warrants at a 10% premium could boost total funding to $531 million. Metaplanet introduced Moving Strike Warrants with an mNAV clause, enabling share issuance only when the stock trades above 1.01 times its modified net asset value. This mechanism aims to protect shareholders from dilution. The company also suspended older warrants to further limit dilution. The raised funds will primarily be used to expand Bitcoin holdings, targeting 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027. Following these announcements, Metaplanet’s stock rose 5% as Bitcoin rebounded above $73,000.
