Metaplanet Inc. Plans To Raise 10 Billion Yen Through Stock Acquisition Rights

According to Odaily, Japanese investment advisory firm Metaplanet Inc. aims to raise 10 billion yen (approximately 66 million USD) through a stock acquisition rights plan. The company has completed the 11th phase of this plan. Initially announced on August 6, Metaplanet's stock price was around 700 yen at that time. Shareholders were given the option to purchase new shares at a discounted price of 555 yen per share. Stock subscription rights provide the right to buy specified stocks at an agreed price in the future. In May, Metaplanet adopted Bitcoin as a reserve asset to hedge against yen fluctuations. Current data shows that the company holds 861.4 Bitcoins. Since the beginning of this year, Metaplanet's stock price has surged by 642%.