Metaplanet Executives Exercise Stock Acquisition Rights to Fund Bitcoin Purchases; Shares Up 8%
Metaplanet (TYO:3350), a Tokyo-based technology firm specializing in blockchain and digital assets, said that its management exercised the 11th series of stock acquisition rights, according to a Monday filing on the Tokyo Stock Exchange.
The shares, resulting from the exercise, are set to be delivered after Sept. 18, following the notice to shareholders.
The company confirmed that the total exercise price of 299.7 million yen has been received, and the proceeds will be used to purchase Bitcoins.
The warrants were exercised by key executives, including representative director Simon Gerovich, director COO Yoshimi Abe, and CFO Yoshihisa Ikurumi, accounting for 540,000 of the 18.2 million issued warrants, or 2.97%.
Shares of the company were up nearly 8% in recent trade.
Price (JPY): $1123.00, Change: $+83, Percent Change: +7.98%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.