Metaplanet Acquires Majority Stake in Super League for $134.6 Million

Metaplanet has announced plans to invest $134.6 million in Super League through its U.S. subsidiary, renaming it Superplanet.

The investment consists of 2,100 Bitcoin worth approximately $132.1 million and $2.5 million in cash, which will be exchanged for new common shares, perpetual preferred stock, and long-dated warrants.

As a result of the transaction, Metaplanet is expected to own about 95.7% of Superplanet's common stock, while its preferred shares will give it the right to designate a majority of directors.