Metaplanet Cuts Series 10 Stock Pool by 41%, Plans Hong Kong Subsidiary
The company will cut 131.3 million potential shares and open a $1 million Hong Kong unit to trade Bitcoin, equities and credit products.
- On Friday, Metaplanet CEO Simon Gerovich announced the company cut its Series 10 stock acquisition rights by 41%, reducing the potential share count from 319 million to 188 million.
- Shareholder criticism regarding dilution prompted the board to reset the conversion ratio to 1:410, reverting to levels seen before the September 2025 international offering.
- According to Gerovich, the adjustment extinguishes more than $220 million in warrant value and increases the company's Bitcoin per fully diluted share by about 8.8%.
- Metaplanet plans to establish Metaplanet Asset Management Asia Limited in Hong Kong later in September with $1 million in initial capital, part of 'Project Nova.'
- VanEck's head of digital asset research Matthew Sigel called the adjustment a 'meaningful concession,' while unvested rights face new restrictions becoming exercisable in 2029, 2030, and 2031.
13 Articles
13 Articles
Metaplanet cuts Series 10 share dilution by 41% after investor concerns
Metaplanet has cut the potential shares tied to its Series 10 stock acquisition rights by 41.1%, reducing the pool from 319.46 million shares to 188.19 million while imposing new exercise restrictions through 2031. Metaplanet said in a Sept. 11 Tokyo…
Cointelegraph
Metaplanet Cuts Series 10 Stock Pool by 41%, Plans Hong Kong Subsidiary
Metaplanet will cut 131.3 million potential shares tied to its Series 10 rights, extinguish more than $220 million in warrant value and form a Hong Kong subsidiary.
Metaplanet responded to the pressure from its shareholders with a 41.1% cut in its controversial pool of options, while expanding its Bitcoin-centered operation to Hong Kong and switching to its financial director.
Metaplanet opens Hong Kong arm and cuts options pool after stock slide
Metaplanet (TYO: 3350) rolled out a series of big updates after its Friday, September 11 board meeting, announcing a new Hong Kong subsidiary, a new CFO, and a 41% trim of a contested stock-option pool. The options pool, by Gerovich’s admission, was poorly presented, which led to a 17% rout in the company’s stock last...
Metaplanet Reduces Series 10 Stock Pool 41% Ahead of Hong Kong Move
Japanese Bitcoin treasury firm Metaplanet says it will again amend the conversion terms of its Series 10 stock acquisition rights, stepping in after shareholder pushback over dilution from an expanded option pool. According to Metaplanet CEO Simon Gerovich, the company will reduce the number of shares that could be issued upon future exercises of the [...]
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