Metaplanet Plans 2,100 BTC Investment to Build U.S. Treasury Platform

Metaplanet has agreed to contribute 2,100 Bitcoin and $2.5 million in cash to Nasdaq-listed Super League Enterprise, a transaction designed to create a U.S. Bitcoin treasury platform under the proposed name Superplanet.

Under the definitive agreement announced August 18, the Bitcoin was valued at approximately $132.1 million. Together with the cash contribution, the stated investment totals about $134.6 million.

Metaplanet Would Take 95.7% Ownership

Metaplanet would receive 44,859,400 common shares priced at $3 each, preferred stock, and warrants. At closing, it is expected to own approximately 95.7% of Superplanet’s outstanding common shares, or about 93.6% assuming the exercise of existing pre-funded warrants.

Super League would remain Nasdaq-listed, change its name to Superplanet, and use the ticker SUPA. Its existing gaming advertising and media business would continue as a separate operating segment rather than being replaced by a shell transaction.

The companies explicitly described the deal as a private placement into an existing operating company, not a reverse takeover or special-purpose acquisition transaction. Metaplanet’s newly issued common shares and shares obtained through its warrants or preferred conversion would be subject to a five-year lock-up.

The Transaction Creates a Two-Market Treasury Structure

Metaplanet currently reports holding 43,000 BTC. The proposed contribution represents about 4.9% of that amount and would establish a second listed treasury vehicle tied to the same consolidated group—Metaplanet in Japan and Superplanet in the United States.

The agreement also gives Metaplanet a 24-month right to subscribe for up to $210 million of junior liquidity preferred stock. It will receive ten-year warrants covering up to 381 million common shares at exercise prices ranging from $3 to $33.50.

The structure expands on the per-share treasury strategy discussed in Metaplanet’s existing Bitcoin-per-share model. It also adds substantial complexity: common stock, convertible preferred shares, warrants, and potential future preferred financing can affect ownership and economic exposure differently.

Closing Is Expected in the Fourth Quarter

The transaction has not closed. Completion is expected in the fourth quarter of 2026 and requires Super League shareholder approval, Nasdaq filings, and applicable procedures in the United States and Japan.

Metaplanet’s 43,000-BTC balance was recently reaffirmed when the company denied reports of a large Bitcoin sale. The new agreement would move 2,100 BTC within a consolidated corporate structure rather than represent a market sale if the deal closes as proposed.

Superplanet plans to report Bitcoin-per-share metrics after closing and may explore future preferred-stock financing. Those plans are forward-looking. Until approvals and closing conditions are satisfied, investors should treat the ownership percentages, name change, Bitcoin contribution, and capital strategy as proposed transaction terms rather than completed facts.