Metaplanet approves $137M overseas raise to buy Bitcoin and repay debt

Tokyo-listed Metaplanet Inc. has officially announced board approval for a substantial capital raise totaling approximately $137 million (¥20 billion). The funding will be secured through an overseas private placement involving the issuance of new common shares. This strategic financial maneuver has been structured with a dual purpose: to aggressively expand the company’s Bitcoin holdings and to repay significant outstanding corporate debt.

The approval signals a major step in cementing Metaplanet’s transition into a Bitcoin-focused corporate entity, often referred to as the ‘MicroStrategy of Japan.’ By tapping into international markets for this private placement, the company is leveraging global demand for institutional exposure to digital assets, bypassing potential complexities in the domestic Japanese equity markets.

A large segment of the newly raised capital will be immediately allocated toward the purchase of Bitcoin, reinforcing the company’s commitment to holding the digital asset as its primary treasury reserve. The remaining portion will be utilized for the substantial repayment of corporate debt. This deleveraging effort is expected to stabilize Metaplanet’s balance sheet, reduce future financing costs, and streamline its operations as it completes its pivot away from traditional real estate development and towards a pure-play investment vehicle centered on digital assets.

Source: Metaplanet approves $137M overseas raise to buy Bitcoin and repay debt