 
 
Metaplanet, the Japanese hotelier-turned-Bitcoin treasury, is making ready one other enormous capital elevate by way of the issuance of its new Class B perpetual shares to gasoline a large Bitcoin acquisition spree.
A Thursday formal discover exhibits that the corporate plans to subject 23,610,000 Class B Most well-liked shares, dubbed MERCURY, at 900 yen every, elevating roughly 21.2 billion yen ( roughly $135 million) by means of a third-party allotment to abroad institutional traders, pending approval at a unprecedented common assembly on Dec. 22, 2025.
Mercury comes with a hard and fast annual dividend of 4.9% on the ¥1,000 ($6.34) notional strike value. It has quarterly funds and an preliminary dividend of 40.40 yen ($0.26) for the interval ending Dec. 31, 2025. Holders can have the suitable to transform the popular shares into frequent inventory at a $6.34 conversion value.
MERCURY provides a hybrid profile of mounted revenue plus long-dated upside potential tied to Bitcoin-driven appreciation in Metaplanet’s fairness worth.
The agency plans to allocate the vast majority of the online proceeds to purchase extra Bitcoin between December 2025 and March 2026. It additionally intends to allocate ¥1.67 billion (round $10.6 million) to its BTC income-generation enterprise, and ¥3.75 billion (round $23.8 million) to redeem its nineteenth Collection company bonds.
 
Metaplanet has now change into the third Bitcoin treasury agency to introduce a most popular fairness construction, following Michael Saylor’s Bitcoin behemoth Technique (previously often known as MicroStrategy) and Attempt.
The capital elevate is coupled with a broader restructuring of Metaplanet’s earlier financing devices. The corporate plans to cancel its twentieth to twenty second sequence inventory acquisition rights and subject new twenty third and twenty fourth sequence rights to Cayman Islands–based mostly funding fund Evo Fund.
Metaplanet — which has been dubbed “Asia’s MicroStrategy” and is the world’s fourth largest company Bitcoin holder — pivoted from its core lodge and expertise enterprise to start out accumulating BTC in 2024 and now holds 30,823 BTC price almost $2.67 billion at at the moment’s BTC value.
The Simon Gerovich-led firm goals to amass 210,000 Bitcoin, roughly 1% of the general provide, by 2027 as a part of a grasp plan.
