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ZEC $1,134 Super League approves Metaplanet plan for US bitcoin treasury firm
Shareholders cleared the way for Superplanet to become a Nasdaq-listed bitcoin treasury vehicle.
Key takeaways
- Approval now secured. Shareholders backed the plan tied to 2,100 BTC and $2.5 million in cash.
- Control changes hands. Metaplanet would hold almost 94% of common stock after closing.
- New name ahead. Closing is anticipated in the fourth quarter of 2026 on Nasdaq as SUPA.
What happened
Shareholders of Super League Enterprise backed each resolution connected to the Metaplanet deal at the annual meeting in 2026. The gathering took place on Friday, with results shared on Monday morning. The vote clears a key step toward creating a Nasdaq-listed vehicle for the Japanese firm.
Under the agreement, Metaplanet will provide 2,100 BTC and $2.5 million in cash through its American unit. In return it gets 44,859,400 common shares at $3.00 per share, plus preferred equity and warrants. The structure also covers up to 435.9 million common shares involving Metaplanet and Evo Fund.
At close the business will adopt the name Superplanet and use Nasdaq ticker SUPA. Its advertising operation will stay as a separate unit, led by chief Matt Edelman. Authorized preferred shares would rise from 10 million to 100 million, while Metaplanet common shares face a five-year lock-up.
First $84.4KLatest $81.9K-3.1% over the period
Points are daily observations, not closing prices.
Why it matters
The deal gives Metaplanet a 93.7% ownership position and power to name most directors and approve key actions. It opens direct entry to American capital markets. The new firm aims to add BTC mainly with senior, non-convertible perpetual preferred shares, with an added option for $210 million in junior preferred support.
Starting with 2,100 BTC, the American vehicle would sit as the 35th-largest treasury holder. Its parent has reported 44,000 BTC, described as the second-largest listed corporate holder. An earlier count cited 43,000 BTC as of August 18 as the third-largest, showing growth over time.
Background
The plan was first outlined in August and still needs Nasdaq filings and other standard closing steps. At close Metaplanet would receive 44.86 million common shares, 100 shares of preferred stock for governance and 10-year warrants linked to $3.4 billion in possible equity. Super League shares traded around $5, up over 9% on the day and over 61% across the last three months.
What is still unclear
- The limits on future sales by Metaplanet after close remain unclear, as no details on exceptions were shared.
- The exact closing date is not set, pending required filings and other standard conditions.
Questions readers ask
What did Super League shareholders approve?
Shareholders approved issuance of common stock and warrants to Metaplanet, the name change to Superplanet and a rise in authorized preferred shares from 10 million to 100 million.
What will Metaplanet contribute and receive?
Metaplanet will contribute 2,100 BTC and $2.5 million in cash. In exchange it receives 44.86 million common shares, 100 preferred shares and 10-year warrants.
When will Superplanet launch and trade?
Closing is anticipated in the fourth quarter of 2026, subject to Nasdaq filings and customary conditions. At close the firm will use ticker SUPA.
