Metaplanet has announced issuing another round of zero-percent ordinary bonds to EVO FUND, valued at 13.35 million, to acquire more Bitcoin.
This decision, approved by the company’s board, marks the ninth round of ordinary bond issuance, demonstrating its commitment to expanding its crypto investment portfolio.
In a regulatory filing dated March 18, the Japanese investment firm disclosed that the proceeds from this issuance would be allocated to purchasing more Bitcoin. This aligns with the firm’s broader strategy to bolster its BTC holdings and solidify its position as one of Asia’s largest corporate Bitcoin holders.
The bonds, which carry no interest, are scheduled for full redemption on September 17 at a rate of ¥100 per ¥100 of face value. However, EVO FUND has the option for early redemption by submitting a written notice to Metaplanet at least one business day before the desired date. This flexibility allows for partial or complete redemption of the outstanding bonds.
To fund the bond redemption, Metaplanet plans to utilize proceeds from the 14th to 17th Series of Stock Acquisition Rights, which the company anticipates exercising. The entire bond issuance will be allocated to EVO FUND without any bond guarantee or collateral attached. According to Google Finance, Metaplanet’s shares declined by nearly 0.5% despite this development, settling at ¥4,030.
This latest issuance follows a similar move on February 27, when Metaplanet issued ordinary bonds to EVO FUND worth ¥2 billion, equivalent to 13.6 million. The company stated that the funds would be directed toward acquiring more Bitcoin, which aligns with its strategic approach to accumulating digital assets. Meanwhile, Metaplanet has made significant progress in its Bitcoin Treasury Operation by acquiring an additional 162 BTC at an average price of 12.39 million yen (approximately 83,635) per Bitcoin. This purchase brings the firm’s total Bitcoin holdings to 3,050 BTC, valued at nearly $250 million, pushing its Bitcoin Treasury past the 3,000 BTC mark.
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