Metaplanet Invests $134M in Super League Enterprise, Expands US Presence

Metaplanet, the third-largest publicly listed corporate Bitcoin holder, is expanding its presence in the US market. The company announced it will invest $132 million worth of BTC and $2.5 million in cash into Super League Enterprise. In return, Metaplanet will receive shares of Super League common stock, convertible perpetual preferred stock, and 10-year warrants.

The deal is expected to close in the fourth quarter pending regulatory approvals and shareholder approval. Upon closing, Super League will rename itself Superplanet Inc. and change its ticker to SUPA. The investment represents about 4.9% of Metaplanet's total BTC holdings.

Metaplanet CEO Simon Gerovich said the deal is about building across two capital markets simultaneously. Super League CEO Matthew Edelman added that this transaction marks the beginning of a new model for public companies to build long-term value around Bitcoin.