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crypto.news 2025-03-18 07:24:38

Metaplanet issues another set of 0% ordinary bonds to purchase more Bitcoin

Japanese investment firm Metaplanet has issued another set of 0% ordinary bonds to EVO FUND, worth $13.35 million, with the aim of buying more Bitcoin. According to a recent notice , the Tokyo-based investment firm is issuing ¥2 billion to EVO FUND, based on a decision made at the company’s board of directors meeting. This marks the ninth issuance of ordinary bonds by the Japanese firm overall. In a Mar. 18 regulatory filing, it is stated that the funds gained from the ordinary bonds issuance will be used to purchase more Bitcoin ( BTC ). This decision is in line with the firm’s ongoing strategy to grow its BTC holdings as one of the largest corporate Bitcoin holders in Asia. The bonds carry no interest and can be redeemed in full on Sept. 17, at ¥100 per ¥100 of the bonds’ face value. However, EVO FUND is granted the option to redeem the bonds before the redemption date by providing a written notice to Metaplanet at least one business day before the desired date. Early redemption can be made for all or part of the outstanding bonds. You might also like: Metaplanet issues $13.6m in ordinary bonds to buy more Bitcoin The funds required for the redemption of the bonds will come from the proceeds of the 14th to 17th Series of Stock Acquisition Rights, which Metaplanet expects to exercise. The bond issuance will be fully allocated to EVO FUND, with no guarantee or collateral attached to the bonds. Despite the bond issuance, Metaplanet’s shares dipped by nearly 0.5% to a price of ¥4,030, according to Google Finance . Earlier on Feb. 27, Metaplanet also issued ordinary bonds to EVO FUND at the same amount of ¥2 billion, which were worth $13.6 million at the time. The investment firm declared that the funds would be used to purchase more Bitcoin. Since April 2024, Metaplanet has been gradually acquiring more BTC after it launched its own Bitcoin Treasury Operations. Most recently on March 12, the firm purchased 162 BTC, which brought its total holdings to 3,050 BTC or equal to over $251 million at current market prices. Read more: Bitcoin-focused Metaplanet’s total holdings break through 3k BTC

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