Metaplanet cuts stock pool, cancels $220M warrants, expands to HK

Metaplanet cut its Series 10 executive stock rights pool by 41%, canceled $220M in warrants, and will launch a Hong Kong subsidiary, addressing dilution and boosting Bitcoin per share.

Metaplanet has addressed shareholder concerns about dilution by reducing its Series 10 executive stock acquisition rights pool by 41%. This reduction cuts potential shares from approximately 319 million to 188 million, effectively extinguishing over $220 million in warrant value. As a result, the company’s Bitcoin per fully diluted share increases by about 8.8%. New exercise restrictions have been imposed on unvested rights, which will now become exercisable in stages from 2029 through 2031. The lockup period for these rights remains in place until August 2031. Plans to transfer 20% of unexercised rights to an employee incentive pool have been scrapped, with a new compensation program to be developed instead. Additionally, Metaplanet is establishing a wholly owned Hong Kong subsidiary with $1 million in capital to manage trading execution during Asian market hours. These measures aim to strengthen governance and rebuild shareholder trust as Metaplanet continues its Bitcoin-focused strategy.