Japanese firm Metaplanet has secured shareholder approval to acquire a 93.7% stake in the Nasdaq-listed gaming and digital media company Super League. The deal involves a contribution of 2,100 BTC and $2.5 million in cash, granting Metaplanet control over the board and corporate decision-making.
As part of the restructuring, Super League will rebrand to Superplanet and adopt the ticker SUPA. The company plans to focus on increasing its Bitcoin holdings per share. Metaplanet has agreed to a five-year lock-up period for its common shares acquired during this transaction.
The acquisition provides Metaplanet with access to US capital markets, allowing the firm to raise funds through preferred stock offerings rather than traditional debt. Metaplanet also holds an option to invest up to $210 million in junior preferred stock to support future operations.
Metaplanet currently holds 44,000 BTC, positioning it as the second-largest publicly traded corporate Bitcoin holder. The firm intends to use this new US-based structure to complement its existing financing activities in Japan and further expand its digital asset treasury.
