Metaplanet Secures 95.7% Stake in Super League Enterprise with $134.6 Million Investment

Metaplanet has agreed to invest in Super League Enterprise, securing a 95.7% stake and creating a US Bitcoin treasury company called Superplanet.

The investment consists of 2,100 BTC and $2.5 million in cash, valued at about $134.6 million based on the closing price of Bitcoin on August 14.

Metaplanet will receive common shares, convertible perpetual preferred stock, and warrants, giving it control over Superplanet's board through five out of nine seats.

The company expects to use its Bitcoin as collateral for possible perpetual preferred stock offerings, raising permanent capital without issuing additional common shares.