Metaplanet announces $66 million raise via equity subscription program

BlockBeats news, on October 23, according to CoinDesk, Japanese listed company Metaplanet announced that it had raised $66 million through an equity subscription plan and had completed the 11th round of equity subscription. Evo Fund subsequently acquired a 14.9% stake. After all equity subscriptions are completed and shares are issued, Metaplanet will raise 5.7 billion yen (37.8 million U.S. dollars).

Metaplanet first announced the equity subscription on August 6, when Metaplanet's share price was about 700 yen, and it gave shareholders the option to buy new shares at a discounted price of 555 yen per share. Metaplanet adopted Bitcoin as a reserve asset in May to hedge against yen fluctuations. According to bitcointreasuries.net, the company currently holds 861.4 BTC, and its share price has risen 642% so far this year.