The Japanese publicly traded company will issue new shares and warrants to finance additional BTC purchases and reduce debt.
Metaplanet, the Tokyo-listed Japanese company specializing in holding Bitcoin as treasury reserves, has announced a capital raise of up to 21 billion yen ($137 million) through the issuance of new shares and warrants. The operation represents a further strengthening of the company’s Bitcoin accumulation strategy.
The company will issue 24.53 million new ordinary shares at a price of 499 yen per share, approximately 5% above the previous closing price, generating around 12.24 billion yen in immediate proceeds. Each new share will be accompanied by 0.65 acquisition rights, equivalent to 15.94 million potential additional shares. The warrants have a fixed exercise price of 547 yen and can be exercised within one year, potentially generating another 8.9 billion yen.
Of the immediately raised funds, 5.2 billion yen will be used to partially repay existing debt. According to the company dashboard, Metaplanet currently has approximately $280 million in outstanding debt. About 14 billion yen ($91.2 million) has been specifically allocated for Bitcoin acquisition, while 1.5 billion yen ($9.8 million) will be allocated to income-generating activities, including options strategies and lending.
The board of directors approved the financing at a Thursday meeting, with the allocation and payment date set for February 13, 2026. The warrants will be exercisable from February 16, 2026, to February 15, 2027. Metaplanet currently holds 35,102 Bitcoin, making it the fourth-largest Bitcoin holder among publicly traded companies.
The capital raise follows Metaplanet’s recently announced long-term goal of acquiring up to 210,000 BTC by 2027, approximately 1% of Bitcoin’s total supply. The company stated that the accumulation will occur in phases and will be managed through its subsidiary, Metaplanet Lightning Capital. Dylan LeClair, Metaplanet’s head of Bitcoin strategy, explained that “the financing structure allows Metaplanet to capitalize on ordinary share volatility to sell shares at a premium to the market while raising capital today.”
