Crypto
Metaplanet Invests $134.6 Million in Super League for Bitcoin Treasury Platform
Metaplanet is investing $134.6 million in Super League Enterprise to launch a U.S. Bitcoin treasury platform called Superplanet.
The deal, announced August 18, includes 2,100 BTC valued at approximately $132.1 million and $2.5 million in cash.
Metaplanet would take 95.7% ownership of Superplanet's outstanding common shares, with existing Nasdaq-listed Super League Enterprise retaining its listing under the new name and ticker SUPA.
The agreement also includes a 24-month right to subscribe for up to $210 million in junior liquidity preferred stock and ten-year warrants covering up to 381 million common shares.