Funding
Metaplanet Raises $329M to Repurchase Shares and Refinance Debt
Japanese Bitcoin treasury company Metaplanet plans to raise $329 million through unsecured, zero-coupon Euro-yen convertible bonds due in 2031. The financing aims to repay Bitcoin-backed loans and fund share buybacks. Metaplanet's borrowing ratio exceeds internal limits, and the new bonds would replace part of its interest-bearing, Bitcoin-collateralized debt. The company also plans to allocate up to $179 million of the proceeds to share repurchases, allowing it to repurchase up to 200 million common shares, representing approximately 14.7% of its outstanding stock.