Metaplanet CEO to lend up to $96M in company shares to support convertible bonds
- —Loan covers up to 55 million shares at a 0.75% annual fee on market value
- —Convertible bonds total 52 billion yen with a conversion price of 339 yen
- —Full conversion would add 11.24% to the current share count
- —Metaplanet separately bought back 73.98 million shares for 19.3 billion yen
Why it matters: The arrangement lowers risk for bond buyers and improves Metaplanet's funding terms as it keeps accumulating bitcoin.
Source: CoinDesk Japan