Metaplanet, a Tokyo-listed firm, is acquiring a 96% stake in Nasdaq-listed Super League Entertainment through a $134.6 million investment, which will rebrand the company as Superplanet Inc. and position it as Metaplanet’s U.S. bitcoin treasury platform.
Metaplanet’s acquisition of Super League Entertainment marks a significant expansion into the North American market. The deal, valued at $134.6 million, includes the purchase of 44.9 million Super League shares at $3 each, alongside 2,100 bitcoin and $2.5 million in cash. The transaction, which will rebrand the firm as Superplanet Inc., is expected to close in the fourth quarter.
The 2,100 bitcoin component represents 5% of Metaplanet’s existing 43,000 bitcoin reserve, underscoring the company’s focus on digital assets. Metaplanet will own 95.7% of Super League’s outstanding common stock post-transaction, with the remaining shares held by other investors.
Simon Gerovich, Metaplanet’s CEO, highlighted the strategic importance of the move, stating it would enable the firm to establish a bitcoin treasury platform in the U.S. Metaplanet’s shares are subject to a five-year lock-up period following the deal.
The rebranded Superplanet Inc. is expected to operate as Metaplanet’s primary vehicle for managing its U.S.-based bitcoin holdings. The acquisition follows Metaplanet’s earlier purchase of Siiibo Securities, a Japanese brokerage specialising in bitcoin-backed financial products.
Written by Rebecca Shaw
Industry Desk
