Metaplanet Cuts Series 10 Stock Pool by 41%, Plans Hong Kong Subsidiary
The change lowers dilution, extinguishes more than $220 million in warrant value and leaves the existing Aug. 17, 2031 lock-up unchanged.
- On Friday, Metaplanet CEO Simon Gerovich announced plans to establish Metaplanet Asset Management Asia Limited in Hong Kong with $1 million in initial capital, alongside a major amendment to Series 10 stock acquisition rights.
- Metaplanet will cut 131.3 million potential shares by resetting the conversion ratio from 1:696 to 1:410, reducing the potential share count from 319 million to 188 million to address investor criticism over dilution.
- This adjustment extinguishes more than $220 million in warrant value while increasing Bitcoin per fully diluted share by 8.8%. VanEck head of digital asset research Matthew Sigel called the move a "meaningful concession" that aligns management with shareholders.
- Part of Metaplanet's "Project Nova," the subsidiary will conduct trading in Bitcoin, equities, and credit products during Asian market hours, building a Bitcoin-centered platform spanning asset management and securities.
- Unvested Series 10 rights now face additional exercise restrictions, becoming exercisable in 2029, 2030, and 2031. Metaplanet shares fell 3.8% on Friday, bringing their five-day decline to 15%, according to Yahoo Finance.
19 Articles
19 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 cancels 131 million shares linked to incentives and reduces the internal shareholding by 41.1% after the pressure of its shareholders in Tokyo. The Metaplanet ticket burns 131 million shares and cuts 41% of the incentives of its managers aparece primero en Merca2.
Metaplanet CEO surrenders $220 million in stock rights to rebuild trust with investors
Metaplanet is cutting executive rewards after concluding that later Bitcoin purchases created less value per share. On Sept. 11, the Tokyo-listed Bitcoin treasury company announced it has reset its Series 10 stock acquisition rights, eliminating more than $220 million in warrant value. This also removes compensation generated by share issuance after September 2025, when its […]
Metaplanet Cuts Management Equity Reward Pool by 41% After Shareholder Protests
Why Did Metaplanet Cut Its Executive Warrant Pool? Bitcoin treasury company Metaplanet has sharply reduced a controversial management equity incentive program after shareholders raised concerns that its structure created excessive dilution while delivering disproportionate gains to executives. The Tokyo-listed company cut the potential shares available under its Series 10 Stock Acquisition Rights plan by 41%, reducing the pool from roughly 319.5…
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