- Metaplanet is investing roughly $134.6 million to acquire about 95.7% of Nasdaq-listed Super League Entertainment.
- The deal includes 2,100 BTC from Metaplanet’s own treasury, representing nearly 5% of its 43,000 BTC holdings.
- Super League will become Superplanet Inc., serving as Metaplanet’s U.S.-listed bitcoin treasury platform.
Metaplanet is making a major push into the U.S. market, investing roughly $134.6 million to take control of Nasdaq-listed Super League Entertainment. The Japanese bitcoin treasury company plans to transform the business into its American bitcoin financial platform.
The transaction involves Metaplanet purchasing 44.9 million new shares at $3 each, alongside preferred stock and warrants. Payment includes 2,100 BTC worth roughly $136 million at current prices, plus $2.5 million in cash.
Super League Becomes Superplanet
Once completed, Super League will be renamed Superplanet Inc. and trade under the ticker SUPA. Metaplanet is expected to control approximately 95.7% of the company’s outstanding common shares.
Super League’s existing gaming media operations will remain, but Superplanet will also function as Metaplanet’s U.S.-listed bitcoin treasury vehicle. The deal is expected to close during the fourth quarter.
The structure differs from many recent crypto treasury deals because Metaplanet is contributing bitcoin directly from its own balance sheet rather than relying primarily on discounted outside financing.
Metaplanet Takes Its Bitcoin Model to America
Metaplanet currently holds around 43,000 BTC, making it one of the world’s largest publicly traded corporate bitcoin holders. The 2,100 BTC committed to Superplanet represents nearly 5% of that treasury.
CEO Simon Gerovich said Superplanet gives Metaplanet a way to expand into the U.S., where it can access significantly deeper capital markets.
The company also plans to explore using Superplanet’s bitcoin as collateral for preferred-stock offerings, potentially creating a model similar to Strategy’s bitcoin-backed capital structure.
Metaplanet Moves Beyond Simply Holding Bitcoin
The expansion is part of Metaplanet’s broader “Project Nova” strategy. Rather than functioning solely as a company accumulating BTC, Metaplanet increasingly wants to build financial products and infrastructure around its bitcoin reserves.
That strategy already includes its acquisition of Japanese brokerage Siiibo Securities, which Metaplanet plans to use for bitcoin-backed fixed-income products known as “Bitbonds.”
The Superplanet deal takes that strategy into the U.S. market. If completed, Metaplanet will gain a Nasdaq-listed platform through which it can potentially raise capital, develop bitcoin-backed financial products and expand its treasury strategy internationally.
