- Metaplanet will own about 95.7% of Superplanet after contributing 2,100 BTC and $2.5M.
- Superplanet will adopt the SUPA ticker and retain Super League’s gaming media business as a separate segment.
- The deal is expected to close in Q4 2026 after shareholder approval, Nasdaq filings and regulatory procedures.
Metaplanet will transfer 2,100 BTC and $2.5 million to Nasdaq-listed Super League Enterprise under an agreement announced August 18. Metaplanet will receive common stock, preferred stock and warrants. Super League will become Superplanet, Metaplanet’s U.S. Bitcoin treasury platform, after closing.
Transaction Details
Metaplanet Holdings, its wholly owned U.S. subsidiary, will make the investment. The 2,100 BTC carries a stated value of about $132.1 million, bringing the investment to about $134.6 million. Metaplanet will receive 44,859,400 common shares priced at $3 each, plus preferred stock and warrants.
The share count uses Bitcoin’s August 14 Coinbase closing price. After the deal, Metaplanet will own about 95.7% of Superplanet’s common stock. That figure becomes about 93.6% if existing pre-funded warrants get exercised.
Metaplanet will also receive 100 convertible perpetual preferred shares. These carry voting rights and director appointment powers. The company will receive ten-year warrants covering up to 381 million shares.
Exercise prices range from $3 to $33.50 across four tranches. Evo Fund will separately receive warrants covering up to 10 million shares.
Superplanet Structure
For 24 months after closing, Metaplanet can subscribe for up to 2.1 million junior liquidity preferred shares. The securities carry a $100 stated value, allowing up to $210 million more.
Metaplanet’s closing shares and shares tied to its warrants or preferred conversion will face a five-year lock-up. Superplanet will retain Super League’s gaming media business as a separate operating segment.
Matthew Edelman will remain chief executive officer, while Metaplanet will designate Superplanet’s chairman. The initial board will have nine members, with five selected by Metaplanet and four continuing directors.
Closing and Treasury Plan
The transaction is expected to close during the fourth quarter of 2026. It requires shareholder approval, Nasdaq filings and regulatory procedures in the United States and Japan.
At closing, Super League plans to adopt the Superplanet name and SUPA ticker. Metaplanet currently holds 43,000 BTC and the contributed Bitcoin will remain within the consolidated group.
Superplanet plans to report Bitcoin-per-share metrics after closing. Metaplanet will report those figures on a consolidated basis and may explore future preferred securities distribution in Japan.
