Metaplanet to Issue $329M in Bonds for Share Buybacks After Stock Crash

Key Facts

1Metaplanet plans to issue 52 billion yen ($329 million) in convertible bonds to fund share buybacks and refinance loans.

2The company's stock has declined nearly 90% from its peak prior to the buyback announcement.

Metaplanet plans to issue 52 billion yen ($329 million) in convertible bonds to fund share buybacks and refinance existing loans. CryptoSlate reported that the capital raise is intended to stabilize the company's financial position and manage its outstanding debt obligations.

The move follows a significant decline in the company's stock, which has dropped nearly 90% from its peak prior to the buyback announcement. By issuing these zero-coupon Euro-yen convertible bonds, the firm seeks to address the impact of the share price collapse and support its Bitcoin-focused treasury strategy.