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 Metaplanet’s shares now trade close to the net value of its Bitcoin holdings. Additional share issuance under these conditions could be dilutive to shareholders.
This trend mirrors broader struggles among Bitcoin treasury companies. Despite Bitcoin approaching record highs, shares of firms such as KindlyMD (NAKA) and Strive (ASST) have dropped 80% or more post-SPAC, reflecting investor reluctance to pay a premium over the underlying Bitcoin value.
Metaplanet, holding 30,823 BTC and ranking as the fourth-largest corporate Bitcoin holder, called the suspension a strategic move to manage capital amid volatile markets, while continuing to strengthen its balance sheet and develop new financial instruments.
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