Metaplanet Issues 52 Billion Yen Zero-Coupon Convertible Bonds for Debt Repayment and Share Repurchases

On October 13, according to an official announcement by Metaplanet Inc. (TSE: 3350), the company has decided to issue zero-coupon euro-JPY convertible bonds maturing in 2031, with a total size of 52 billion yen (issued at 102.5% of par). The bonds will be listed on the Singapore Exchange on October 29, with Merrill Lynch International serving as the sole bookrunner.

Net proceeds of approximately 51.9 billion yen will be used to: repay approximately 23.6 billion yen of bitcoin-secured credit facilities (current balance approx. $650 million); and fund share repurchases of up to 28.3 billion yen (approximately 97.94 million shares, representing about 7.1% of outstanding shares) to offset potential dilution and increase BTC holdings per share.

This financing is a key component of the company's "Project Nova" strategy. Metaplanet currently holds 44,000 BTC and is transitioning from a pure Bitcoin holding entity to a Bitcoin-centric native financial platform, covering financing, asset management, settlement, and financial product development. The company completed the acquisitions of Metaplanet Securities (formerly Siiibo Securities) and Superplanet (NASDAQ: SUPA, formerly Super League Enterprise) in 2026, which now serve as capital market operational bases for Japan and the United States, respectively.