MetaPlanet Completes $66 Million Fundraising Through Stock Acquisition Rights Plan

Odaily Planet Daily reported that Japanese investment advisory firm Metaplanet Inc. announced the completion of the 11th stock acquisition rights, raising a total of 100 billion yen (approximately $66 million). It is reported that the stock acquisition rights plan was initially announced on August 6, when Metaplanet's stock price was around 700 yen, and the company provided shareholders with the option to purchase new shares at a discounted price of 555 yen per share (Note: Stock subscription rights are the right to buy designated stocks at an agreed price in the future). Metaplanet held as a reserve asset in May to hedge against yen fluctuations, and data shows the company currently holds 861.4 , with its stock price having risen 642% so far this year. (Coindesk)