Metaplanet buys back ¥19.3B of shares under ¥60B program
- —73.98 million shares repurchased for roughly ¥19.3 billion
- —Program caps at ¥60 billion and 200 million shares through October 13, 2027
- —Conversion price for ¥520 billion convertible bonds set at ¥339, a 29.89% premium
- —About ¥23.6 billion of proceeds to repay credit facility borrowings in November
Why it matters: The buyback and zero-coupon convertible bonds cut debt costs and support the share price relative to the value of the company's bitcoin holdings.
Source: CoinPost