Metaplanet Seeks to Buy Nasdaq-Listed Super League With 2,100 Bitcoin
Summary
- Metaplanet said it signed an agreement to acquire about 95.7% of Nasdaq-listed Super League by investing 2,100 Bitcoin and $2.5 million in cash.
- The transaction, with a total investment of about $134.6 million, will result in Super League changing its name to Superplanet while keeping its Nasdaq listing once the deal closes.
- Metaplanet said it will operate Superplanet as a US Bitcoin treasury platform, raising funds in US capital markets to pursue Bitcoin purchases and a long-term increase in holdings.
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Japanese Bitcoin treasury firm Metaplanet is seeking to acquire Nasdaq-listed Super League.
Metaplanet said on X on Aug. 18 that it signed an agreement to acquire about 95.7% of Super League by investing 2,100 Bitcoin and $2.5 million in cash. The total investment amounts to about $134.6 million.
Once the deal closes, Super League will change its name to Superplanet and keep its Nasdaq listing. Metaplanet plans to operate Superplanet as a US Bitcoin treasury platform.
Metaplanet currently holds 43,000 Bitcoin.
Chief Executive Officer Simon Gerovich said the company had built one of the world's largest Bitcoin treasury companies in Japan and is now pursuing the same strategy in the US. Through Superplanet, it plans to raise capital in US markets to buy Bitcoin and expand its holdings over the long term.
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