Metaplanet cuts Series 10 stock pool by 41%, plans Hong Kong subsidiary
Metaplanet will cut 131.3 million potential shares and form a $1 million Hong Kong subsidiary for trading in Bitcoin, equities and credit products.
Metaplanet will cut 131.3 million potential shares and form a $1 million Hong Kong subsidiary for trading in Bitcoin, equities and credit products.
Metaplanet CEO Simon Gerovich said the Japanese Bitcoin treasury company will further amend its Series 10 stock acquisition rights amid shareholder backlash over dilution concerns.
Metaplanet will reduce the number of potential shares underlying the rights by 131.3 million, from 319.464 million to 188.19 million, by resetting the conversion ratio from 1:696 to 1:410, the level before its September 2025 international share offering, Gerovich announced in a Friday X post.
In a Friday X post, VanEck’s head of digital asset research, Matthew Sigel, called the adjustment a “meaningful concession” that better aligns management with shareholders.