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Japanese Investment Giant Breaks Asia's Record with New Bitcoin Plan: Never Raised This Much! - Coin Bulletin
Japanese hotel investor Metaplanet (3350), attracted attention with the largest capital increase in the history of the Asian stock market.
The company raised approximately 116 billion yen (1745 million dollars) for the purchase of Bitcoin, (BTC).
Metaplanet issued 21 million shares through moving price warrants with 0% discount as part of the capital increase. This method allows shareholders to obtain the right to purchase shares at the current market price, while keeping the dilution of existing shareholders' shares to a minimum.
(# "Bitcoin-First, Bitcoin-Only" Strategy
The company announced that the capital increase is part of the “Bitcoin-first, Bitcoin-only” )Bitcoin first, only Bitcoin### strategy. This strategy is consistent with the company's plans to increase its Bitcoin assets during a period of declining value of the yen. At present, Metaplanet is the fifteenth largest publicly traded Bitcoin holder in the world with 1.762 BTC in hand.
The rights to purchase the issued shares were issued at 363 yen (2.33 dollars) per unit and have an adjustable exercise price based on the market price.