Metaplanet unveils $380 million share buyback after stock crashes nearly 90% from peak
Japanese Bitcoin treasury firm Metaplanet plans to raise $329 million through convertible bonds to fund share buybacks and refinance Bitcoin-backed loans after its stock crashed nearly 90% from its peak.
Metaplanet intends to raise $329 million to support share buybacks and refinance Bitcoin-backed loans, following a steep stock decline of nearly 90% from its peak. On Oct. 13, the Japanese Bitcoin treasury firm revealed plans to issue ¥52 billion ($329 million) in unsecured, zero-coupon Euro-yen convertible bonds maturing in 2031, with the offering anticipated to close on Oct. 29.
Frequently Asked Questions
01What is Metaplanet raising funds for?
Metaplanet is raising $329 million to fund share buybacks and refinance its Bitcoin-backed loans.
02How much is the company raising and through what instrument?
The company is issuing ¥52 billion ($329 million) in unsecured, zero-coupon Euro-yen convertible bonds due in 2031.
03When is the bond offering expected to close?
The offering is expected to close on Oct. 29.
