- Metaplanet will contribute 2,100 BTC (~$132.1 million) and $2.5 million in cash to Nasdaq-listed Super League Enterprise, forming Superplanet (ticker: SUPA).
- The deal marks Metaplanet’s first operating foothold outside Japan and is funded entirely with its own Bitcoin, not third-party capital.
- Metaplanet will own roughly 95.7% of Superplanet’s common stock at closing, expected in the fourth quarter.
Tokyo-listed Metaplanet, one of the world’s largest corporate Bitcoin holders, is expanding into the United States by seeding a Nasdaq-listed Bitcoin treasury company with 2,100 BTC. The company agreed to contribute the coins, worth approximately $132.1 million, plus $2.5 million in cash, to gaming media firm Super League Enterprise in exchange for stock, preferred shares, and warrants, according to the announcement.
Super League will be renamed Superplanet, Inc. and trade under the ticker SUPA, becoming a consolidated Metaplanet subsidiary while keeping its existing advertising business as a separate segment. Metaplanet will own about 95.7% of Superplanet’s common stock at closing, which is expected in the fourth quarter.
CEO Simon Gerovich framed the move as a way to tap the world’s deepest capital market, stating that Metaplanet is contributing its own Bitcoin and locking up its shares to compound a single group Bitcoin position across two listed platforms. The firm currently holds 43,000 BTC, ranking it the third-largest corporate holder globally.
Mark Palmer of Benchmark-StoneX, who rates Metaplanet a buy and calls it “the Strategy of Japan,” noted that the transaction stands out from recent shell-and-PIPE treasury deals. Palmer pointed out that the deal is funded with Metaplanet’s own Bitcoin rather than third-party money raised at a discount, the share count was fixed on August 14, and Metaplanet’s shares carry a five-year lock-up.
The move deepens Metaplanet’s ambitions beyond accumulation, following its acquisition of a Japanese securities firm to launch Bitcoin yield products and the rollout of Bitcoin-backed “Bitbonds.” Superplanet plans to publish its own Bitcoin-per-share metrics after the deal closes.
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