The Third-Largest Corporate Holder Of Bitcoin Wants To Enter The US Market By Investing 2,100 BTC In Super League

• Metaplanet will invest 2,100 BTC and $2.5 million in cash in Super League Enterprise.

• Metaplanet will issue 44,859,400 Super League common shares for $3.00 per share, as well as convertible perpetual preferred stock and 10-year warrants.

• Super League will rename itself Superplanet Inc. and move its ticker to SUPA upon closing, expected in Q4.

Metaplanet (MTPLF), the third-largest publicly listed corporate Bitcoin (BTC) holder, announced on Tuesday that it would invest 2,100 BTC worth more than $132 million and $2.5 million in cash into Nasdaq (NDAQ) listed Super League Enterprise (SLE) in a deal that would create a dual-listed Bitcoin treasury platform.

The 2,100 BTC represented about 4.9% of its total holdings of 43,000 BTC, Metaplanet said. The company said the share count was set based on the closing price of Bitcoin on the Coinbase (COIN) Exchange at 4 p.m. Eastern Time (ET) on August 14 and will not be adjusted between now and close.

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Super League will change its name to Superplanet Inc. and its ticker to SUPA upon closing. The deal is expected to close in the fourth quarter, pending stockholder approval and regulatory processes in the U.S. and Japan.