Japanese bitcoin treasury firm Metaplanet is set to acquire a 95.7% stake in Nasdaq-listed Super League Enterprise (SLE) through a $134.6 million investment, which would rebrand the gaming-media firm as Superplanet and position it as Metaplanet’s U.S. bitcoin treasury platform. The deal includes 2,100 bitcoin valued at $132.1 million and $2.5 million in cash, with the transaction expected to close in the fourth quarter.
The investment, which would give Metaplanet control of Super League Enterprise, comes as SLE’s share price has risen over 70% since Monday’s close, trading at $5.20. The agreement also includes 10-year warrants for up to 381 million shares at exercise prices ranging from $3 to $33.50, according to the terms disclosed.
Super League Enterprise, which operates in the gaming and media sectors, will be rebranded as Superplanet under the deal. Matthew Edelman, SLE’s current CEO, will lead the restructured entity, while Metaplanet’s CEO, Simon Gerovich, highlighted the strategic use of bitcoin in the investment.
Metaplanet’s investment includes the potential for an additional $210 million through non-convertible preferred stock, according to the agreement. The firm’s stated intent is to leverage Superplanet as a U.S. bitcoin treasury platform, though further details on operational plans remain unclear.
CoinDesk has not received a response from Metaplanet for comment, leaving some aspects of the deal’s implications unverified. Super League Enterprise’s market value stood at roughly $5 million at Monday’s close, raising questions about the valuation rationale for the acquisition.
Written by Rebecca Shaw
Industry Desk
