Metaplanet Issues $333 Million Zero-Coupon Convertible Bonds for Repayment and Stock Buyback

Metaplanet will issue approximately $333 million (52 billion JPY) in zero-coupon convertible bonds maturing in 2031, with Merrill International serving as the exclusive bookrunner. The bonds will be issued at 102.5% of face value and will be listed on the Singapore Exchange. The net proceeds are expected to be around $333 million, of which approximately $151 million will be used to repay credit financing secured by Bitcoin, and up to about $181 million will be used for stock buybacks. As of September 30, Metaplanet holds 44,000 Bitcoins, with a credit financing borrowing balance of approximately $650 million, accounting for about 17.7% of its net Bitcoin asset value. The company plans to repurchase up to approximately $162 million in stock through ToSTNeT-3 on October 14, and has set a total buyback limit of approximately $385 million.

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