Metaplanet issues another set of 0% ordinary bonds to purchase more Bitcoin

The Japanese investment company Metaplanet issued another set of ordinary bonds of 0% to Evo Fund, worth 13.35 million dollars, in order to buy more bitcoin.

According to a recent noticeThe Tokyo -based investment company issues 2 billion yen to Evo Fund, based on a decision taken during the company’s board of directors. This marks the ninth issue of ordinary bonds by the Japanese company as a whole.

In a regulatory file of March 18, it is indicated that the funds drawn from the emission of ordinary bonds will be used to buy more bitcoin (BTC). This decision complies with the continuous strategy of the company aimed at developing its BTC assets as one of the largest corporate bitcoin holders in Asia.

The obligations have no interest and can be exchanged in full on September 17 at 100 ¥ per ¥ 100 of the nominal value of the bonds. However, Evo Fund has the possibility of buying obligations before the buyout date by providing a written notice to Metaplanet at least one working day before the desired date. Early repurchase can be made for all or part of the current obligations.

The funds required for the redemption of obligations will come from the product of the 14th to the 17th series of rights to acquire shares, which Metaplanet plans to exercise.

The issue of bonds will be entirely allocated to the EVO Fund, without guarantee or guarantee attached to the obligations. Despite the emission of bonds, Metaplanet’s shares have dropped by almost 0.5% at a price of ¥ 4,030, according to Google Finance.

Earlier on February 27, Metaplanet issuing Ordinary obligations to Evo Fund in the same amount of 2 billion yen, which was worth $ 13.6 million at the time. The investment company said that funds would be used to buy more bitcoin.

Since April 2024, Metaplanet has gradually acquired more BTC after launching its own Bitcoin cash operations. More recently on March 12, the company bought 162 BTC, which brought its total assets to 3,050 BTC or equal to more than $ 251 million at current market prices.