Exchanges· ★★★★· neutral·

Metaplanet raises $329M to repay debt and buy back shares, not to buy BTC

  • —Convertible bond issue of 52 billion yen ($329 million) maturing in 2031
  • —$149 million earmarked to repay Bitcoin-collateralized loans
  • —$179 million allocated to buybacks under a program of up to $380 million
  • —Metaplanet holds about 44,000 BTC worth $3.6 billion, second among public companies
Why it matters: Metaplanet cuts the risk of forced BTC sales in a price slump, but the new bonds could dilute existing shareholders.
#BTC
Source: Newsbit
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