Metaplanet planned to raise 555 billion yen by releasing two different sections of BTC-supported shares over the next two years. The funds will go to its ambitious 2027 BTC acquisition target.
Summary
- Metaplanet has planned to pill from common shares to favorite shares to raise more money to buy BTC.
- The Japanese investment company targets 210,000 BTC by 2027.
In a recent company’s notice, the Japanese investment firm and Bitcoin (BTC) Treasury announced plans that will increase the number of its authorized shares, shares as compared to common shares.
Unlike normal shares, preferred stocks are usually not associated with voting rights in shareholder meetings. In other examples, the voting rights of favorite shares are limited. For the issue of clarification documents by Metaplanet, serving a different purpose when there is a hand by preferred share companies.
“For companies, preferred share of share capital works as a meaning of raising which reduce the weakening of common shares,” the company has written in its notice.
In addition, the company said that in the event of liquidation, preferred shareholders have the right to achieve the distribution of assets that remain.
The company discovered that the issue of favorite shares would support bitcoin. The ICONDER for Metaplanet, “The goal of issuing preferred shares rather than common shares to increase flexibility in capital policy and diversify financing options.”
Shares will be divided into two classes: Class A “Non-Constable” always favorite shares and class B “convertable” always favorite shares. Each batch will include shares of 277.5 billion yen. The Shepherd registration gives the company flexibility to release these shares in the next two years at any time, Untul August 2027.
Metaplanet’s BTC mile target for 2027
So far, the firm is mainly raising funds through common shares.
Recently, it has been assumed to issue other types of shares other than normal shares in a rented QNA file. However, release of favorite shares still depends on the approval of shareholders in the annual general meeting for the proposal.
At the press time, Metaplanet has placed a total of 17,132 BTC in its holdings with each BTC, announced $ 114,964 on the data of the firm’s official site. Holdings claimed a BTC yield of 449.7% on the basis of year-on-year.
In early June, Metaplanet announced its target to hold at least 210,000 BTC by the end of 2027. Current bitcoin supply in the world.
To achieve this goal, the firm has increased its annual target for 2026 from just 21,000 BTC to 100,000 BTC. The leap reflects about five-first leaps from its previous BTC acquisition target.