The shareholders of Super League have approved all proposals related to the $2,100 Bitcoin investment from Metaplanet, paving the way for the Nasdaq-listed company to rename itself Superplanet and serve as the U.S. Bitcoin treasury vehicle for the Japanese company.
These proposals were approved at the 2026 annual general meeting of Super League Enterprise, Inc., which took place on Friday and was disclosed on Monday morning. The transaction was initially announced in August.
Under the final agreement, Metaplanet, Inc. will contribute 2,100 bitcoins and $2.5 million in cash through its wholly owned U.S. subsidiary, Metaplanet Holdings, Inc.
In exchange, Metaplanet will receive 44,859,400 shares of common stock at an issuance price of $3.00 per share, along with preferred shares and warrants.
After the transaction is completed, Super League will be renamed "Superplanet, Inc." and will trade on Nasdaq under the ticker symbol "SUPA." Its advertising and media activation business will continue as a standalone operating segment, with Matt Edelman remaining as CEO.
Shareholder-approved measures include the issuance of common stock and warrants to Metaplanet, as well as a corporate name change. According to the meeting summary posted on X, these proposals also include increasing the authorized number of preferred shares from 10 million to 100 million.
Metaplanet CEO Simon Gerovich wrote on X: "Shareholders of Super League have voted to approve the proposed Metaplanet transaction, marking a significant step in our transition from a Bitcoin treasury company to a global Bitcoin-native financial platform."
After the transaction, Superplanet will become our Bitcoin custody platform listed in the United States, providing access to the U.S. capital markets and enabling more flexible capital raising when opportunities arise.
Edelman also evaluated the vote in a similar manner in the company’s announcement: “Their approval brings us one step closer to redefining what this company can become.”
The company stated that the transaction is expected to be completed in the fourth quarter of 2026, subject to customary closing conditions, including the submission of required documents to Nasdaq Capital Market. Shareholder approval is a necessary step, but not the final one.
Super League stated that this arrangement aims to establish terms governing Metaplanet’s ability to dispose of its equity holdings following the transaction. The company did not provide details on exceptions to these restrictions in its announcement.
As of August 18, Metaplanet holds 43,000 BTC and claims to be the third-largest corporate Bitcoin treasury among publicly listed companies. The merged structure aims to give the group two listed Bitcoin treasury platforms—one on the Tokyo Stock Exchange and one on Nasdaq—each targeting distinct investor groups and reporting currencies.
Super League connects its brand with what it calls 3.3 billion global gamers through advertising and branded content initiatives, operating across gaming and digital media platforms. Metaplanet is a Tokyo-listed company building financial products and infrastructure based on Bitcoin.
Affected by this news, Super League's stock price rose.