Metaplanet Issues ¥3.6 Billion in Bonds to buy more Bitcoin

Tokyo-based company Metaplanet announced the issuance of 12th series ordinary bonds for a total amount of 3.6 billion yen.

The entire 12th series of ordinary bonds, consisting of 40 units, will be sold to EVO FUND at a price of 90 million yen per unit and carry no interest rate. The bonds will mature on October 31, 2025, and will be redeemed at face value.

“The proceeds raised through this issuance will be allocated to the purchase of Bitcoin,” Metaplanet stated in a regulatory filing.

The company’s plans to invest in cryptocurrencies were previously announced in January with the series of stock acquisition rights.

It is anticipated that the funds required for the bonds’ redemption will be generated from the capital realised through the exercise of the 15th to 17th series of stock acquisition rights.

In the event of the bondholder’s request for early redemption, they can provide written notice at least one business day prior to the desired redemption date.

Later this year, Metaplanet is aiming to apply for listing on the Standard Market of Tokyo Stock Exchange from its current listing on the Growth Market.

Earlier this year, Metaplanet unveiled its goal of amassing 21,000 Bitcoin by 2026. To date, the company has already accumulated more than 5,000 BTC and recently added 145 Bitcoin for $13.6 million in mid-April.

This latest bond issuance further contributes to the firm’s ambitious Bitcoin acquisition program.

Recently, Metaplanet integrated BTC Inc. CEO David Bailey into its advisory board as part of their strategy to further bolster the company’s focus on Bitcoin.

If the proceeds from the stock acquisition rights exceed specific thresholds, then Metaplanet retains the option to commence early bond repayments in 90 million yen echelons.

In Thursday’s trading session on the Tokyo Stock Exchange, the company’s shares closed at 428 yen, reflecting an 8.6% surge.

This development unfolds amid the ongoing narrative of institutional Bitcoin adoption, both within Japan and on the global stage.

At press time, the price of Bitcoin stands at $97,000. In other industry news, Semler Scientific disclosed an expansion of its Bitcoin holdings through a $15.7 million purchase of 165 BTC. However, Metaplanet has not yet disclosed whether any of the new bond proceeds have been used to acquire additional Bitcoin.