TLDR
- Metaplanet plans to invest $134.6 million to acquire a 95.7% stake in Nasdaq-listed Super League Enterprise.
- The investment includes 2,100 Bitcoin worth about $132.1 million and $2.5 million in cash.
- Super League plans to rebrand as Superplanet and trade on Nasdaq under the ticker SUPA.
- Metaplanet would gain the right to invest an additional $210 million through preferred stock over the next 24 months.
- Metaplanet would appoint five of nine directors, while Super League CEO Matthew Edelman would lead Superplanet.
- The transaction is expected to close in the fourth quarter of 2026.
Japanese bitcoin treasury company Metaplanet plans to acquire a 95.7% stake in Nasdaq-listed Super League Enterprise through a $134.6 million investment. The deal would create a U.S. bitcoin treasury platform under the new Superplanet name.
The deal gives Metaplanet a direct operating base in the United States public market.
Metaplanet Builds U.S. Bitcoin Platform
Metaplanet will contribute 2,100 bitcoin worth about $132.1 million and $2.5 million in cash. In return, it will receive 44.9 million common shares, preferred stock, and warrants.
Super League shares traded at $5.20, up more than 70%. The company had a market value near $5 million at Monday’s close before the transaction details emerged.
After closing, Super League plans to change its name to Superplanet and trade under the ticker SUPA. Existing shareholders would own about 4.3% of the combined company.
Metaplanet would also receive 10-year warrants covering up to 381 million additional shares. Exercise prices would range from $3 to $33.50 per share.
Bitcoin Holdings Support the Investment
Metaplanet is using part of its Bitcoin holdings to fund the initial deal. CEO Simon Gerovich said the company committed less than 5% of its Bitcoin to seed the investment.
The company would also gain the right to invest another $210 million through non-convertible preferred stock over 24 months. Superplanet plans to use bitcoin as collateral for future preferred stock offerings.
Leadership and Closing Timeline
Superplanet’s current operations would continue as a separate business segment. CEO Matthew Edelman would lead Superplanet, while Metaplanet would appoint five of the company’s nine directors.
The transaction is expected to close in the fourth quarter. The planned structure gives Metaplanet control of Superplanet while keeping Super League’s existing business active under the larger Bitcoin treasury strategy.
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