Metaplanet Clears All 5 EGM Proposals, Unlocks Preferred Shares to Scale Bitcoin Strategy
Key Takeaways:Shareholders Approve 5-for-5 at Metaplanet EGMCapital Reallocation to Boost Financial FlexibilityPreferred Shares Take Center StageAuthorized Preferred Shares DoubledMARS: Monthly Floating-Rate Class A SharesClass B Shares Target Long-Term Institutional CapitalUpdated Dividend and Protection FeaturesOverseas Institutional Issuance ApprovedBitcoin Strategy Context
Although the EGM resolutions are capital structure-related, they are mainly connected to the overall positioning of Metaplanet as a public company that is Bitcoin-aligned. Metaplanet has consistently focused on Bitcoin as one of its strategic assets, which is often compared to MicroStrategy because of its treasury strategy. Focusing on preferred shares rather than issuing common equity will enable the company to finance the growth without minimizing the upside of current shareholders. The new approved instruments offer numerous avenues of financing growth, such as future possible acquisition of Bitcoin without the need to time the market.About Author
