Metaplanet stops Stock Rights to Boost Bitcoin Holdings

Key Highlights: 

• Metaplanet will suspend series stock acquisition rights soon.
• The suspension will affect 398 million shares.
• This suspension is a strategic move to support Metaplanet’s aim of accumulating more and more Bitcoin. 

Metaplanet Inc. has temporarily paused the exercise of its 20th to 22nd series of stock acquisition rights which were originally issued via third-party allotment to EVO FUND. The pause is said to run from October 20, 2025 to November 17, 2025 and will cover 20 trading days. The decision aims to optimize capital management and increase Bitcoin holdings for long-term shareholder value.

Background of the Suspension

According to the official filing on October 10, 2025, the suspension affects the 20th to 22nd stock acquisition rights, which let EVO FUND buy Metaplanet shares, but the company can pause them temporarily. These rights, with adjustable exercise prices and suspension features, were granted to EVO FUND, with Evolution Japan Securities Co., Ltd. (EJS) serving as intermediary.

After this, Metaplanet formally notified EJS of suspension under its repurchase agreement, which allows temporary freezing of the rights for financial planning or market adjustment purposes.

Suspension Details and Scope

The suspension includes a huge number of stock acquisition rights that are not exercised and are currently held by the EVO FUND. It has 284,400 units of the 20th series, which is equal to 28,440,00 shares, 1,850,000 units each of the 21st and 22nd series, which is equal to 185,000,000 shares per series.

The suspension covers more than 398 million potential shares, which shows that major part of Metaplanet’s capital and its future share conversion or dilution potential.

Metaplanet issued stock acquisition rights to EVO FUND. This means that Metaplanet lets EVO FUND buy shares at a set price. However, the suspension clauses lets Metaplanet temporarily pause these rights, while the adjustable exercise price permits price changes under specific circumstances. This provides the business with flexibility in managing the capital and make needed strategic choices. All of this is governed by an agreement with Evolution Japan Securities.

This is not the first time that the company is suspending the exercise of stock acquisition. Most recently, the company suspended the same stocks from September 3 to September 30, 2025, which affected over 400 million shares.

Flexibility under Repurchase Agreement

Metaplanet said that the decision to pause these stock rights is a strategic move to better manage its capital in these changing market conditions. The company called it a period to increase flexibility and create more value.

The company has been constantly changing its strategy and its finances to support its long-term growth, solidify its balance sheet, and improve capital efficiency.

The main aim of this plan is to accumulate Bitcoin, and make Metaplanet the biggest corporate holders of Bitcoin in Japan. As of September 30, 2025, the company holds 30,823 BTCs and plans to hold 210,000 BTCs by the end of 2027. So currently it holds 14.68% of its said goal.

Outlook and Corporate Direction

The suspension of the stock exercise period is aimed at keeping market confidence steady and controlling any dilution of the shares. As Metaplanet controls when the new shares are issued, it wants to make sure that the shareholders are protected and keep funding plans in line with its long-term goals.

As of now, the company will be focusing more on achieving steady growth and increasing shareholder value. The company plans to do so by using new innovative tools and managing part of its funds in Bitcoin. The company is also on a lookout for new ways to raise and manage money so that it can keep enough cash on hand, use capital efficiently and stay involved in digital assets.

All of these moves indicate that Metaplanet is determined to become Japan’s biggest corporate company that holds Bitcoin treasury.

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