Metaplanet Announces Issuance of 2 Billion Yen Ordinary Bonds to Purchase Bitcoin
Metaplanet Inc. Announces Bond Issuance
Metaplanet Inc. announced on March 31, 2025, that its board of directors has resolved to issue the 10th series of ordinary bonds to EVO FUND, totaling 2 billion yen.
Key Details of the Bond Issuance
The total amount of the 10th series ordinary bonds issued by Metaplanet is 2 billion yen, with a face value of 50 million yen per bond. Notably, these bonds do not pay interest and will mature on September 30, 2025, at which time the company will redeem the bonds at 100% of their face value. Additionally, bondholders, EVO FUND, have the right to redeem the bonds early, provided that they notify the company at least one business day in advance.
Use of Proceeds: Further Accumulation of Bitcoin
Metaplanet has explicitly stated that the proceeds from this issuance will be used to purchase Bitcoin. This strategy is consistent with the company’s announcement on January 28, 2025, when it issued stock acquisition rights from the 13th to the 17th series, with adjustable exercise prices and suspension clauses, and signed purchase agreements with investors. Metaplanet expects that the funds for redeeming the bonds will primarily come from the exercise of the stock acquisition rights.
Flexible Early Redemption Mechanism
Metaplanet has designed a flexible early redemption mechanism for the bonds. When the cumulative funds obtained by the company from the exercise of stock acquisition rights reach 50 million yen (i.e., the face value of a single bond) or its multiples, the company has the right to choose to redeem an equivalent amount of the bonds early. This arrangement provides the company with greater financial management flexibility and reduces the uncertainty of debt burden.
Limited Impact on Financial Performance
The company anticipates that the bond issuance will have a limited impact on its financial statements for the fiscal year 2025. Metaplanet stated that if there are any substantial impacts on financial performance or other significant matters in the future, it will timely release relevant announcements.
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and prices can be highly volatile, which may result in the loss of your entire principal. Please evaluate the risks cautiously.
