Metaplanet Approves $137 Million Overseas Fundraise to Expand Bitcoin Holdings

Highlights:

• Metaplanet has approved an overseas fundraising plan worth up to $137 million through stock acquisition rights.
• The company plans to use most proceeds for Bitcoin purchases and partial debt repayment.
• The plan follows recent filings that disclosed a large Bitcoin impairment and expanded capital options.

Metaplanet, a Tokyo-listed Bitcoin-focused company, disclosed an overseas fundraising plan in a regulatory filing released Thursday. The board approved a private placement that combines new common shares and stock acquisition rights. The total fundraising could reach about $137 million if investors exercise all rights. The offering targets overseas investors under a third-party allotment structure. The filing outlined pricing, quantities, and timelines for each instrument.

*Notice Regarding Issuance of New Shares and 25th Series Stock Acquisition Rights through Third-Party Allotment* pic.twitter.com/upB0YnvaXT

— Metaplanet Inc. (@Metaplanet) January 29, 2026

The company will issue 24,529,000 newly issued common shares. It set the issue price at JPY 499 per share. This portion of the offering is expected to raise about JPY 12.24 billion, equivalent to roughly $78 million. The shares will be allocated privately to scheduled overseas allottees. The filing listed routine conditions related to representations and contractual compliance.

Alongside the shares, the company approved 159,440 stock acquisition rights. Each right grants the option to purchase 100 ordinary shares. If investors exercise all rights, the company will issue 15,944,000 additional shares. The exercise price stands at JPY 547 per share. The price reflects about 115% of the closing price on the trading day before the board resolution.

The investors can exercise the rights within a period of one year. The company said total proceeds could be lower if holders choose not to exercise their rights. The share issue and the stock acquisition rights share the same allotment and payment dates. The company fixed that date to be on Feb. 13, 2026.

Metaplanet Approves a Clear Plan for Using the Funds

The filing explained how the company plans to use the proceeds. The management said it will allocate most funds to additional Bitcoin purchases. The company also plans to invest in its Bitcoin income business. Another portion of the funds will support partial repayment of debt under an existing credit facility. The company included these allocations in the purpose section of the filing.

The management stated that the debt repayment will restore borrowing capacity. The company also said the step preserves flexibility for future capital actions. Dylan LeClair, the company’s Bitcoin strategy director, addressed the financing structure in a public statement. He said the structure lets the company raise capital while limiting dilution. He also said the company can sell shares at a premium during periods of stock price volatility.

Metaplanet has resolved to raise up to ¥21b (~$137m) via stock + warrants.

Shares priced at ¥499 (+5% previous close) to raise ¥12.24b upfront. Additionally each share comes with 0.65 warrants exercisable at ¥547 (+15% prev close) for 1-year, for up to ¥8.8b additional proceeds. https://t.co/7H0uVQbYn7

— Dylan LeClair (@DylanLeClair) January 29, 2026

The management of Metaplanet cited Bitcoin’s scarcity and portability in explaining its holding strategy. The company currently ranks as the fourth-largest corporate Bitcoin holder in the world. According to public data, the company currently holds 35,102 BTC. The holdings are valued at more than $3 billion using the recent market prices.

The company did not disclose any changes to its Bitcoin acquisition policy. It also did not provide a timeline for future purchases. The filing focused on capital sources and permitted uses. The management reiterated that Bitcoin remains a core balance sheet asset.

Recent Filings Add Context to the Strategy

The fundraising disclosure followed several recent regulatory filings. Earlier this week, the company reported a 104.6 billion yen impairment on its Bitcoin holdings. The impairment reflected price declines during the previous market downturn. The company recorded the charge as a non-operating expense. Management stated that the impairment does not affect cash flows or daily operations.

Metaplanet approved dividend-paying preferred shares for overseas institutional investors in December. The decision expanded its capital-raising options beyond common shares. The new disclosure also followed a separate filing that revised the company’s 2026 revenue outlook. That update came despite the impairment charge. The company did not link the outlook change directly to Bitcoin prices. The filings listed funding approvals, accounting treatment, and balance sheet items without additional commentary.