Metaplanet plans to contribute 2,100 BTC, valued at about $132 million, to Nasdaq-listed Super League (SLE), along with an additional $2.5 million in cash. After the deal closes, Super League is set to rename itself Superplanet and proposes changing its ticker symbol to SUPA. Metaplanet said it expects to own about 95.7% of Superplanet following the transaction. The company described the move as part of a plan to build a U.S.-listed bitcoin treasury platform that can raise capital through U.S. capital markets. Superplanet also plans to target the growing "digital credit" market by issuing U.S. dollar-denominated perpetual preferred shares, using the proceeds to buy more bitcoin, while supporting dividend payments with dollar reserves and operating cash flow. Metaplanet said the structure is designed to increase BTC per share at Superplanet and also raise bitcoin holdings per Metaplanet share at the group level. The setup would leave the group with two listed bitcoin treasury platforms, one in Japan and one in the United States.
Metaplanet plans to inject 2,100 BTC into Nasdaq-listed Super League (SLE), assets valued at about $132 million, along with an additional $2.5 million in cash, according to BlockBeats on Aug. 18.
Once the transaction is completed, Super League will be renamed Superplanet, and its ticker is expected to change to SUPA. Metaplanet said it expects to hold about 95.7% of Superplanet after closing, as it moves to build a U.S.-listed bitcoin treasury platform and tap U.S. capital markets for financing.
Funding plan centers on digital credit market
Superplanet plans to position itself in the growing "digital credit" market. The company intends to raise funds by issuing U.S. dollar-denominated perpetual preferred shares and use the proceeds to buy more bitcoin. It also plans to support dividend payments with U.S. dollar reserves and operating cash flow.
Group structure would span Japan and the U.S.
Metaplanet said the strategy is meant to increase the amount of BTC backing each Superplanet share, while also increasing bitcoin holdings per Metaplanet share at the group level. Under this structure, the group would operate two listed bitcoin treasury platforms, one in Japan and one in the United States, with both using their respective capital markets to continue accumulating BTC.
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