Metaplanet doubled authorized Class A and Class B preferred shares while amending dividend structures to include floating and periodic payouts.
Bitcoin News
Metaplanet cleared five proposals Monday that restructure its capital framework, allowing Japan's largest corporate Bitcoin holder to issue dividend-paying preferred shares targeting institutional investors. The company's Bitcoin strategy director, Dylan LeClair, confirmed investors approved measures that expand preferred share issuance and introduce new dividend structures.
The approved changes reclassify capital reserves for preferred share dividends and potential buybacks. Metaplanet doubled authorized Class A and Class B preferred shares while amending dividend structures to include floating and periodic payouts. The company also cleared Class B preferred share issuance to international institutional investors.
Metaplanet held approximately 30,823 Bitcoin worth $2.75 billion at press time, according to Bitcoin Treasuries data. This positions the firm as Asia's biggest corporate Bitcoin holder and fourth-largest globally.
The capital structure overhaul shifts from pure growth-through-dilution toward traditional markets approaches where income-producing securities coexist with Bitcoin-focused balance sheet strategy.
Class A preferred shares will adopt monthly floating-rate dividends under the Metaplanet Adjustable Rate Security structure. This allows investors to receive regular income aligned with institutional requirements for predictable cash flows. Metaplanet packages exposure to corporate Bitcoin holdings in formats familiar to institutions rather than offering direct Bitcoin yield.
Class B preferred shares include quarterly dividends, a 10-year issuer call at 130% of face value, and an investor put option exercisable if a qualifying IPO does not occur within one year. Metaplanet can buy shares back after 10 years at premium pricing while investors retain the right to early exit if the company does not go public within 12 months.
These features mirror protections in private credit and structured equity markets, reducing downside risk for long-term capital providers. Targeting overseas institutions allows global investors to seek Bitcoin exposure without directly holding spot Bitcoin or volatile common stock. Metaplanet operates within Japan's regulatory and capital markets environment while adapting strategies from U.S.-based corporate Bitcoin treasury models.
The company announced Friday it will begin trading in the United States on over-the-counter markets through American Depositary Receipts. The announcement followed the company's establishment of a Miami subsidiary months earlier.
Metaplanet remains among the most closely watched Bitcoin-focused public companies in Asia as it expands access to global capital markets while maintaining significant cryptocurrency holdings on its balance sheet.
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