Metaplanet Cuts Executive Rewards, Resets Stock Rights

Metaplanet, a Tokyo-listed Bitcoin treasury company, has reset its Series 10 stock acquisition rights to rebuild trust with investors. The move eliminates $220 million in warrant value and reduces the remaining unexercised shares by 55.5%.

The decision was made after the company's board reviewed previous equity financings based on the premium to Bitcoin net asset value at which shares were sold, the BTC Yield generated, and the resulting shareholder value.

Metaplanet CEO Simon Gerovich said that the September 2025 international offering marked a turning point when capital raises became 'less accretive' and the Series 10 structure gave holders disproportionate value relative to existing shareholders.