Metaplanet: plans to issue 52 billion yen zero-coupon convertible bonds for share repurchase and to release mortgaged Bitcoin

According to Metaplanet CEO Simon Gerovich, Metaplanet announced the issuance of 52 billion yen zero-coupon convertible bonds maturing in 2031, while simultaneously advancing a share buyback.

Of the raised funds, up to 28.3 billion yen will be used for discounted repurchase of company shares; 23.6 billion yen will be used to repay loans and release Bitcoin previously locked as collateral, in order to eliminate interest costs and enhance financial flexibility for additional Bitcoin purchases. In addition, Simon Gerovich will lend up to 55 million shares of personal holdings at an annual interest rate of 0.75% to reduce the hedging borrowing costs for institutional investors and optimize the bond issuance conditions.