Metaplanet Invests $132M in Super League Enterprise Amid Plans for Dual-Listed BTC Platform

Metaplanet, the third-largest publicly listed corporate holder of Bitcoin (BTC), has announced plans to invest $132 million worth of its digital assets into Super League Enterprise. The company will also provide an additional $2.5 million in cash as part of the deal.

The investment will give Metaplanet a significant stake in Superplanet Inc., with the ability to control 95.7% of the company's common shares upon closing. Simon Gerovich, CEO of Metaplanet, stated that the partnership is about 'building across two capital markets simultaneously.'

Super League Enterprise will rename itself to Superplanet Inc. and change its ticker to SUPA upon completion of the transaction, expected in Q4. The deal also includes the issuance of convertible perpetual preferred stock and 10-year warrants.