Metaplanet Injects 2,100 BTC Into Super League for U.S. Expansion

Metaplanet will contribute 2,100 BTC, valued at about $132.1 million, plus $2.5 million in cash to Nasdaq-listed Super League to create a U.S. bitcoin treasury platform called Superplanet and acquire control of the company.

Under a definitive agreement, Metaplanet will receive 44.86 million common shares priced at $3 each, along with preferred stock and warrants. The number of common shares issued to Metaplanet was fixed using bitcoin’s closing price on Aug. 14 and will not change before the transaction closes. After closing, Super League will be renamed Superplanet Inc. and become a consolidated subsidiary of Metaplanet. The transaction is structured as a private placement rather than a reverse takeover or SPAC-style deal. Metaplanet is expected to hold about 93.6% of Superplanet’s outstanding common stock after accounting for existing pre-funded warrants.

Metaplanet framed the contribution as an effort to extend its corporate bitcoin treasury into the United States while maintaining its larger treasury in Japan. The company reports ownership of 43,000 BTC; the 2,100 BTC contribution represents roughly 4.9% of that total. The initial investment is valued at approximately $134.6 million.

Metaplanet agreed to a five-year lock-up on the shares it receives.

Superplanet will remain listed on Nasdaq and will retain Super League’s existing gaming and media operations. Metaplanet will continue accessing Japanese capital markets through its Tokyo listing, while Superplanet will seek funding from U.S. investors. The group expects that financing which does not increase Superplanet’s common-share count could raise bitcoin per share without diluting existing equity.

Super League chief executive Matthew Edelman noted the company spent the past year eliminating debt, cutting costs and simplifying its capital structure, and added, “We believe bitcoin is the strongest monetary asset available for a corporate balance sheet in today’s fiscal environment.” Metaplanet chief executive Simon Gerovich described Superplanet as “how we build in America, the deepest capital market in the world.”

The arrangement creates a dual-listed structure in which Metaplanet controls a consolidated group operating two separate listed vehicles to tap different investor pools. Future financing decisions and any changes to share structure will determine how bitcoin holdings per share evolve.