Metaplanet raised $515 million by issuing new shares to purchase more Bitcoin

ChainCatcher news, according to The Block, Japanese listed company Metaplanet announced that it has successfully raised 74.9 billion yen (approximately 515 million USD) in equity funding by exercising its 20th stock subscription rights to issue 54 million shares for the first time, aimed at purchasing more Bitcoin. This issuance accounts for 29% of the company's subscription warrants, with approximately 1.31 million subscription warrants (about 131 million shares) remaining to be exercised.

Previously, Metaplanet planned to issue a total of 555 million new shares (accounting for 92% of the circulating shares) to raise 5.4 billion USD for Bitcoin acquisition.