Metaplanet Plans to Issue 52 Billion Yen Zero-Coupon Convertible Bonds, Repurchase Up to 7.1% of Issued Shares

Odaily reports that Metaplanet CEO Simon Gerovich posted on the X platform stating that the company has announced the issuance of 52 billion yen in zero-coupon convertible bonds maturing in 2031, while simultaneously advancing a share repurchase plan.

According to the arrangement, up to 28.3 billion yen of the net proceeds from this financing will be used for share repurchases, as part of a total 60 billion yen buyback program. Of this, up to 25.3 billion yen will be used to repurchase up to 96,934,800 shares through ToSTNeT-3 off-exchange trading, representing approximately 7.1% of total issued shares, with the remaining repurchase funds to be used for open market transactions.

Additionally, the company plans to use 23.6 billion yen to repay a portion of its secured borrowings, in order to release Bitcoin held as collateral. Gerovich stated that this move aims to replace interest-bearing borrowings with unsecured, zero-coupon debt, reducing financing costs and enhancing financial flexibility for subsequent Bitcoin accumulation.