Metaplanet cuts Series 10 share dilution by 41% after investor concerns

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Metaplanet has cut the potential shares tied to its Series 10 stock acquisition rights by 41.1%, reducing the pool from 319.46 million shares to 188.19 million while imposing new exercise restrictions through 2031. Summary Metaplanet cut potential shares under its Series 10 stock acquisition rights by 41.1%, from 319.46 million to 188.19 million. Remaining potential shares after previous exercises will fall 55.5% to 105.37 million, while Bitcoin per fully diluted share increases by about 8.8%. Unvested rights will become exercisable in three stages from 2029 through 2031, while the existing lockup through August 2031 remains unchanged. Metaplanet scrapped plans to transfer 20% of unexercised rights to an employee incentive pool and will develop a new compensation program. Metaplanet said in a Sept. 11 Tokyo Stock Exchange disclosure that its board approved another amendment to the Series 10 rights, changing the number of shares underlying each right from 696 to 410. After accounting for rights that have already been exercised, the remaining potential shares will fall 55.5% from 236.64 million to 105.37 million. A Letter to Metaplanet Shareholders:Over the past several weeks, many o...

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