The Japanese investment firm now holds around 245.992 Bitcoins.
Following a recent meeting of the Board of Directors, the firm revealed this strategic plan.
The Japanese investment firm Metaplanet has announced its intention to acquire Bitcoin via a massive stock rights offering valued at $68 million. Following a recent meeting of the Board of Directors, the firm revealed this strategic plan. Which is a big change as it tries to get into the digital asset market. The firm now holds around 245.992 Bitcoins, since it has been increasing its BTC holdings over the past few months.
In order to acquire Bitcoin, Metaplanet made a bold step by announcing a stock rights offering of $67.5 million. The gratuitous distribution of the company’s eleventh series of unlisted stock purchase rights to all common shareholders has been authorized by the Board of Directors.
Strategic Plan
All shareholders whose shares are on record as of September 5, 2024, will be eligible to acquire one stock acquisition right for every share they possess as part of this offering. Existing shareholders are guaranteed a chance to keep their ownership percentage in the firm via this proportionate distribution. To make it easy for investors to join Metaplanet’s crypto strategy, the exercise price for each right is fixed at $3.70 (555 yen).
There is no mandate that shareholders use their rights, thus they may choose whether or not to do so. The notice will begin the exercise period, which will end on October 15, 2024. During this period, shareholders who would want to take part are required to provide the firm the necessary money together with an exercise request form.
In a surprising turn of events, Metaplanet has threatened to purchase any rights that have not been exercised. By the October 15 deadline at no further expense. At the time of writing, Bitcoin is trading at $56,389 as per data from CMC. This rebound comes after the price declined below $50,000 earlier this week.
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