Metaplanet Inc. (TYO: 3350, OTCQX: MTPLF) submitted a notice on October 10 announcing that it will halt exercise of its 20th through 22nd series stock acquisition rights, originally issued June 23 and allotted to EVO FUND, for a 20-trading-day period beginning October 20 and ending November 17. The rights enable Metaplanet to issue its equity to acquire bitcoin, so the move halts dilution until further notice.
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As of today, 284,400 units of the 20th series (28.44 million underlying shares), and 1,850,000 units each of the 21st and 22nd series (185 million shares apiece) remain unexercised.
The company cited “evolving market conditions” and the need for strategic capital management to enhance flexibility and maximize long-term value. Metaplanet noted that past initiatives have strengthened its financial foundation and supported its mission to expand Bitcoin holdings and optimize BTC yield. The suspension is positioned as a proactive measure to optimize capital and drive shareholder value, with future announcements to follow should the company lift or extend the suspension.
Last month Metaplanet established Metaplanet Income Corp., a wholly-owned U.S. subsidiary dedicated to its Bitcoin Income Generation Business. Metaplanet’s board injected the subsidiary with an initial $15 million in capital.
Read More: Metaplanet announces “Metaplanet Prefs” and a Japanese, Bitcoin-backed yield curve
At the time of publication, Metaplanet was down 1.8% during Tokyo’s trading session.
