Metaplanet issues bonds worth 13 million dollars to enhance Bitcoin reserves.

Metaplanet Inc., the publicly listed company in Japan, officially announced on March 31 its plans to expand its investment in Bitcoin through the issuance of its 10th batch of ordinary bonds, which were approved by the board on the same day.

The current bond issuance has a total value of 2 billion yen ( equivalent to approximately 13.3 million USD) and will be fully purchased by the EVO FUND, an investment fund specializing in digital assets. EVO FUND is known for its role in providing structured finance and capital support for blockchain-oriented businesses. Metaplanet asserts:

“The funds raised from this issuance will be used to purchase Bitcoin.”

This move aligns with the strategy previously announced on January 28, when Metaplanet expressed its intention to use funds raised from the issuance of share options to bolster its Bitcoin reserves. Most recently, on March 23, the company purchased an additional 150 BTC, bringing its total holdings to 3,350 BTC.

The notice also clarifies the issuance terms, including a 0% interest rate and full repayment of the face value upon maturity. Each bond has a face value of 50 million yen, with a payment deadline of September 30. The agreement allows the EVO FUND to request early repayment with at least one business day’s notice. Additionally, early repayment may be triggered if the capital raised from the subscription rights of series 14 to 17 reaches multiple times the face value of the bonds. In this case, the company may make partial bond payments on the next trading day or another day as agreed.

Notably, this issuance does not require collateral, guarantees, or a bond manager as stipulated in the Japanese Company Law. Payments will be processed directly by Metaplanet from its office in Tokyo. The company assesses that the financial impact from this move is negligible:

“The issuance of this bond is expected to have minimal impact on the company’s consolidated financial results for the fiscal year ending December 2025.”

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.

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Mr. Teacher

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