According to CoinDesk, the stock price of MetaPlanet, a Japanese BTC treasury company, is approaching the trigger point for restarting its stock issuance plan, with only about 5% remaining to reach the target. On Wednesday, MetaPlanet's stock price rose 15% to 605 yen, nearing the trigger price of 637 yen. Once this level is reached, the company will activate its Series 23 warrant plan, allowing the issuance of up to 105 million new shares. The funds raised are likely to be used for purchasing more Bitcoin. If the stock price continues to rise to 777 yen, the Series 24 warrants will be activated, allowing an additional issuance of 105 million shares. MetaPlanet currently holds 35,102 Bitcoin, making it the fourth-largest publicly traded company in terms of Bitcoin holdings. Since the December low, the company's stock price has risen 90%, and its enterprise value to Bitcoin holdings ratio has climbed to 1.36, the highest level since October.
MetaPlanet Stock Near Trigger Price for New Share Issue to Buy Bitcoin
TechFlowShare
Summary
MetaPlanet's stock rose 15% to 605 yen on Wednesday, approaching the 637 yen trigger price for its 23rd warrant, which could issue 105 million shares to purchase Bitcoin. A rise to 777 yen would unlock another 105 million shares through the 24th series. The company holds 35,102 BTC, ranking fourth globally in Bitcoin price exposure. Analysts suggest that altcoins to watch may gain momentum if Bitcoin continues to rally.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.