Metaplanet Pauses Stock Acquisition Rights Amid Weak Share Valuation
Metaplanet (MTPLF) will suspend the exercise of its 20th to 22nd series of Moving Strike Warrants from Oct. 20 to Nov. 17, pausing all remaining rights for 20 trading days. The suspension affects warrants issued via a third-party allotment to Evo Fund.
The move delays stock sales for Bitcoin purchases, as the company’s shares now trade close to the net value of its Bitcoin holdings. Issuing additional shares under these conditions could be dilutive to shareholders.
This mirrors a broader trend in Bitcoin treasury companies. Despite Bitcoin nearing record highs, shares of firms such as KindlyMD (NAKA) and Strive (ASST) have declined 80% or more post-SPAC, reflecting investor reluctance to pay a premium over the underlying Bitcoin value.
Metaplanet, which holds 30,823 BTC and ranks as the fourth-largest corporate Bitcoin holder, called the suspension a strategic move to manage capital amid volatile markets. The company plans to continue strengthening its balance sheet, supporting shareholders, and developing new financial instruments.
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