Exchange Listing
Metaplanet Acquires 93.7% Stake in Super League
Metaplanet, a Japanese Bitcoin treasury company, has secured shareholder approval to acquire a 93.7% stake in Nasdaq-listed Super League through a transaction involving 2,100 Bitcoin and $2.5 million in cash. The deal will give Metaplanet greater access to US capital markets, allowing it to raise funds for future cryptocurrency purchases. Super League plans to rebrand as Superplanet and adopt the Nasdaq ticker SUPA. Metaplanet will receive 44.86 million common shares, convertible preferred stock, and warrants, and will have significant governance rights, including the power to appoint most board members. The transaction also grants Metaplanet the ability to finance Bitcoin acquisitions through perpetual preferred stock offerings and invest up to $210 million in junior preferred shares.