Metaplanet has revised the terms tied to its Series 10 stock acquisition rights, according to a shareholder letter from CEO Simon Gerovich. The board decided to cancel 41% of the related shares and reset the warrant-to-share conversion ratio to its level before the company’s international offering in September 2025. Under the new structure, the ratio will change from a fixed 1:696 to 1:410. Metaplanet said the move removes more than $220 million in warrant value, cuts the number of related potential shares by 41%, reduces fully diluted share capital, and lifts fully diluted Bitcoin holdings per share by about 8.8%. The company also said all unvested warrants will face longer exercise restrictions, with one-third becoming exercisable in 2029, 2030, and 2031, while the previously agreed five-year lockup remains in place. In addition, Metaplanet will cancel 20% of warrants that had been earmarked for an employee incentive pool and work with a global compensation consultant on a new compensation incentive plan.
Metaplanet has decided to further revise the arrangements for its Series 10 stock acquisition rights, according to a shareholder letter released by CEO Simon Gerovich. The board also decided to cancel 41% of the related shares and reset the conversion ratio to the level in place before the company’s international offering in September 2025.
Under the new arrangement, the warrant-to-share conversion ratio will be reset from the previously fixed 1:696 to 1:410. Metaplanet said the change will eliminate more than $220 million in warrant value, reduce the number of related potential shares by 41%, lower fully diluted share capital, and increase fully diluted Bitcoin holdings per share by about 8.8%.
The company also said all unvested warrants will be subject to longer exercise restrictions. One-third will become exercisable in 2029, 2030, and 2031. The previously agreed five-year lockup period will remain unchanged.
Metaplanet will also cancel 20% of warrants that had been planned for an employee incentive pool and will work with a global compensation consultant to design a new compensation incentive plan.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
