Japan-based Metaplanet will invest $134.6 million in Nasdaq-listed Super League Enterprise. Once the transaction closes, Metaplanet will control a 95.7% stake in the company.
Metaplanet will contribute 2,100 Bitcoin and $2.5 million in cash. Super League will then become Superplanet, a U.S.-based Bitcoin treasury platform.
SLE shares surged 57%
Super League shares climbed sharply following the announcement. SLE reached an intraday high of $6.85 on August 18, briefly pushing its daily gain above 100%.
The stock was trading 57% higher at $4.74 as of 6:53 p.m. Türkiye time. Super League’s market capitalization stood at approximately $5 million at Monday’s close.
The company’s low market value and limited share count amplified the price movement. However, the agreement includes the issuance of a large number of new shares, creating significant dilution for existing investors.
According to the companies’ announcement, Metaplanet will receive 44,859,400 newly issued SLE shares. The transaction values each share at $3.
Metaplanet will contribute 2,100 Bitcoin
The 2,100 Bitcoin provided by Metaplanet was worth approximately $132.1 million based on Coinbase’s August 14 closing price. The amount represents about 4.9% of Metaplanet’s total reserves of 43,000 BTC.
The remaining $2.5 million will come in cash. This brings the initial investment’s total value to approximately $134.6 million.
The parties fixed the number of shares using Bitcoin’s August 14 price. The share count will not change in response to BTC price movements before the transaction closes.
Metaplanet will not sell its Bitcoin on the market. The assets will move to Superplanet, but the BTC will remain within the same corporate group because the new company will be a consolidated Metaplanet subsidiary.
Super League will become Superplanet
Super League will change its name to Superplanet after the transaction closes. Its Nasdaq ticker will also change from SLE to SUPA.
Superplanet will operate as Metaplanet’s U.S. Bitcoin treasury company. The group will gain access to separate investor bases and capital markets through listings in Tokyo and on Nasdaq.
Super League’s gaming, advertising and digital media operations will continue. The existing business will remain a separate operating segment within Superplanet.
Super League CEO Matthew Edelman will lead the new company. Metaplanet will appoint five members of Superplanet’s nine-person board.
Existing SLE investors’ stake will fall to 4.3%
Metaplanet will control approximately 95.7% of Superplanet’s outstanding common stock following the issuance of the new shares. Existing Super League investors will collectively hold the remaining 4.3%.
Metaplanet’s stake would stand at 93.6% if outstanding pre-funded warrants are exercised. This percentage would still give the company clear majority control.
Metaplanet will also receive 100 shares of convertible perpetual preferred stock. These securities will give it the right to appoint a majority of Superplanet’s board.
The agreement also grants Metaplanet ten-year warrants. The company could use them to purchase up to 381 million additional shares at exercise prices ranging from $3 to $33.50.
These warrants could cause further changes to Superplanet’s ownership structure if exercised. However, Metaplanet’s initial shares and any stock obtained through warrants will remain subject to a five-year lock-up.
Superplanet could receive another $210 million
Metaplanet will have the right to invest up to an additional $210 million in Superplanet during the 24 months following the transaction’s closing. The investment would use non-convertible perpetual preferred stock.
Superplanet plans to use its Bitcoin holdings as a collateral base for potential preferred stock offerings. Income from its existing media operations and other cash flows could help fund dividend payments on these securities.
The structure aims to help Superplanet accumulate more Bitcoin while limiting new common share issuance. After closing, the company plans to publish regular metrics showing the amount of Bitcoin attributable to each share.
The transaction is expected to close in the fourth quarter of 2026. It remains subject to approval from Super League shareholders, required Nasdaq filings and regulatory procedures in the United States and Japan.
Meta title: Metaplanet to Build U.S. Bitcoin Treasury
Meta description: Metaplanet will transfer 2,100 Bitcoin to Super League to create Superplanet, a U.S. treasury platform. SLE shares rose 57%.
Primary keyword: Metaplanet Superplanet
Keywords: Metaplanet, Superplanet, Super League, SLE stock, Bitcoin treasury company, 2,100 Bitcoin, SUPA stock
