Japanese firm Metaplanet is extending its bitcoin treasury strategy into the United States through a definitive agreement with Nasdaq-listed Super League Enterprise. Under the deal, Metaplanet will contribute 2,100 BTC—valued at approximately $132.1 million—along with $2.5 million in cash, bringing the total initial investment to roughly $134.6 million.
In exchange, Metaplanet will receive 44.86 million Super League common shares priced at $3 each, alongside preferred stock and warrants. Following the close of the transaction, Super League will be renamed Superplanet Inc. and will operate as a consolidated subsidiary of Metaplanet. Metaplanet anticipates owning about 93.6% of Superplanet’s outstanding common stock after accounting for existing pre-funded warrants.
Superplanet will maintain its Nasdaq listing and retain Super League's current gaming and media operations. The transaction has been structured as a private placement rather than a reverse takeover or a special purpose acquisition company (SPAC) deal. The 2,100 BTC contribution amounts to approximately 4.9% of Metaplanet's total holdings of 43,000 BTC, with the company currently maintaining its larger treasury in Japan.
“We’ve built one of the world’s largest bitcoin treasuries from Japan. Superplanet is how we build in America, the deepest capital market in the world,” said Metaplanet CEO Simon Gerovich. To emphasize its long-term commitment, Metaplanet has agreed to a five-year lock-up on the platform.
The strategic framework provides the consolidated group with two distinct listed vehicles to raise capital and accumulate bitcoin across different regions. While Superplanet targets financing from U.S. investors, Metaplanet will maintain its access to Japanese markets. Super League CEO Matthew Edelman noted that the company spent the preceding year eliminating debt, cutting costs, and simplifying its capital structure, adding that bitcoin serves as a robust corporate balance sheet asset.
