Metaplanet Drops $132M Worth of BTC to Fuel US Expansion

Metaplanet, a Japanese Bitcoin treasury company, is expanding its US presence through a proposed investment in Super League Enterprise. The agreement involves a contribution of approximately $132.1 million worth of BTC to Super League, valued at 2,100 units. In exchange, Metaplanet will receive common shares, preferred stock, and warrants in the company.

The total initial investment is around $134.6 million, including a cash component of $2.5 million. Following completion of the transaction, Super League will be renamed Superplanet, Inc., becoming Metaplanet's dedicated US Bitcoin treasury platform.

Metaplanet is set to hold approximately 95.7% of Superplanet's issued and outstanding common stock. This includes potential exercise of outstanding pre-funded warrants, which could increase its ownership to about 93.6%. The transaction does not involve a reverse takeover or SPAC deal, with existing gaming and media operations expected to remain intact.