Metaplenet, the Japanese hospitality and real estate group turned into Bitcoin Treasury Company, said Tuesday that he will broadcast 385 million new actions to expand their Bitcoin holdings and their related businesses.
The shares will be sold through an international offer outside Japan to 553 yen ($ 3.75) each, raising approximately 212.9 billion yen ($ 1.44 billion), the company said. The price of the problem represents a 9.9% discount at the closing price of Metaplanet Tuesday of 614 yen.
The payment date is established for September 16, when insurers and investors will transfer funds to the company. The delivery date continues on September 17, when the new shares will be accredited to investors.
The measure represents a capital offer, not a bond issuance, which means that there is no coupon rate. On the other hand, new actions are being sold, increasing the risk of dilution for existing shareholders.
Metaplenet said the income will be used to buy additional bitcoin (BTC) between September and October as a coverage against a greater depreciation of the Japanese YEN and to expand the company’s income generation business of the company, which has so far been based on the BTC options trade.
The measure follows a series of purchases of Bitcoin that have promoted Metaplenet to the ranks of the world’s largest BTC public holders, with 20,137 BTC in its general balance, according to industry data.
Although Metaplenet officially remains classified as a hotel operator, he has been turning to digital assets for more than a year. The company presented its Bitcoin Treasury strategy in 2024 as a coverage against inflation, negative interest rates and the long -term effects of Japan’s national debt. Since then, it has raised capital repeatedly to acquire BTC, at the expense of a greater dilution of the shareholders.
Metaplenet actions have increased more than 150% during the past year due to the enthusiasm for their Bitcoin strategy. However, in the last month, the actions negotiated in Japan have fallen almost 39%, even when Japan’s Nikkei index won 1.7% during the same period.
Related: Metaplenet’s Bitcoin strategy faces the fundraising creak as sinks: report
Bitcoin Treasury companies face assembly risks
After an initial wave of enthusiasm, Bitcoin’s strategy of Metaplenet has begun to meet winds against, with the so -called “steering wheel” effect that loses the impulse, according to Bloomberg Law. This deceleration has pushed the company to seek new sources of financing, particularly from global markets, which explains its last issuance of shares.
Analysts warn that narrow premiums could become a key source of volatility for Bitcoin Treasury companies. The Premium gap refers to the difference between the price of the actions of a Bitcoin Treasury company and its Net Assets (NAV) value, a differential that has recently been compressed, according to the Nydig Greg Greg Cipolaro global research head.
However, the strategy continues to win traction, with dozens of companies that turn to digital assets treasury models.
Public companies now have more than 1 million BTC collectively, and some treasure bonds have begun to expand to Ethher (ETH), Solana (Sun) and other alternatives.
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