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Cryptocurrency News Articles

Metaplanet Issues ¥1.75 Billion in 1-year 0.36% Bonds, Proceeds to Fund Additional Purchases of $BTC

Nov 18, 2024 at 03:22 pm

Japanese investment adviser Metaplanet has announced plans to issue ¥1.7 billion in one-year 0.36% bonds to buy more Bitcoin.

Metaplanet Issues ¥1.75 Billion in 1-year 0.36% Bonds, Proceeds to Fund Additional Purchases of $BTC

Japanese investment adviser Metaplanet has announced plans to issue ¥1.7 billion in one-year 0.36% bonds to buy more Bitcoin.

Tokyo Stock Exchange-listed Metaplanet is doubling down on its Bitcoin (BTC) strategy with the issuance of a ¥1.75 billion — around $11.7 million as of press time — ordinary bond to fund additional BTC acquisitions.

The third series of ordinary bonds, exclusively allocated to EVO FUND, carries a 0.36% annual interest rate and is fully guaranteed by the company’s president and representative director, Simon Gerovich, per a Nov. 18 regulatory filing.

The bonds will mature on Nov. 17, 2025, with repayment secured through a first-priority mortgage on Hotel Royal Oak Gotanda, a property owned by Metaplanet’s subsidiary, Wen Tokyo Inc.

Amid the news, Metaplanet shares on the Tokyo Stock Exchange soared 5%.

The move underscores the Japanese company’s commitment to crypto as part of its broader investment portfolio. Metaplanet also reassured stakeholders that the financial impact of this issuance on its fiscal year results “is expected to be minimal,” while leaving room for further updates if material changes arise.

Additionally, Metaplanet revealed a new shareholder benefits program, offering perks to shareholders, including Bitcoin-related experiences and discounts in a partnership with SBI VC Trade, The Bitcoin Conference, Bitcoin Magazine, Hotel Royal Oak Gotanda, and Webull Securities to boost shareholder engagement and encourage long-term investment.

The announcement follows Metaplanet’s recent acquisition of 156.7 BTC for approximately ¥1.6 billion, pushing its total Bitcoin holdings past 1,000 BTC to 1,018 BTC.

News source:crypto.news

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