Monitor Nasdaq filing for closing conditions and the actual closing date in Q4 2026. The Bitcoin price volatility between now and closing will affect the implied value of the consideration received. Post-closing, track Bitcoin holdings and the company's ability to execute its Bitcoin treasury strategy alongside its operating business.
Price Chart
Executive Summary
Stockholders approved all proposals related to Metaplanet's strategic investment, including the issuance of up to 435,859,500 shares to Metaplanet and Evo Fund in exchange for 2,100 Bitcoin and $2.5M cash. The company also purchased 2 Bitcoin for its treasury. The transaction, which will rename the company 'Superplanet, Inc.' and relist under 'SUPA,' is expected to close in Q4 2026, subject to Nasdaq filings.
Key Facts
- Stockholders approved issuance of up to 435,859,500 shares to Metaplanet Holdings and Evo Fund under Nasdaq Listing Rule 5635.
- Metaplanet will contribute 2,100 Bitcoin (valued at ~$170M as of Oct 16, 2026) plus $2.5M cash at closing.
- Metaplanet receives 44,859,400 shares at $3.00/share, 100 shares of convertible perpetual preferred stock, and ten-year warrants for up to 381,000,000 shares with exercise prices from $3.00 to $33.50.
- Company will be renamed 'Superplanet, Inc.' and trade on Nasdaq under ticker 'SUPA' at closing.
- Metaplanet has a five-year lock-up on all common shares issued at closing and shares from warrant exercise or preferred conversion.
- Company purchased 2 Bitcoin at an average price of $81,444.82 per Bitcoin for its treasury.
- Stockholders approved increasing authorized common stock from 750M to 1B shares and preferred stock from 10M to 100M shares.
- Transaction expected to close in Q4 2026, subject to customary closing conditions including Nasdaq filings.
Financial Impact
Metaplanet contributes 2,100 Bitcoin (~$170M as of Oct 16) + $2.5M cash; Metaplanet has right to invest up to an additional $210M over 24 months post-closing via non-convertible junior liquidity preferred stock.
Risk Factors
- Bitcoin price volatility could significantly change the value of the treasury asset post-closing.
- Massive dilution: up to 435.9M shares authorized for issuance to Metaplanet and Evo Fund, plus warrants for up to 381M additional shares.
- Transaction subject to Nasdaq filing and customary closing conditions — risk of delay or failure to close.
- Company's existing advertising business may be overshadowed or under-resourced post-transaction.
- Metaplanet will have significant governance and voting rights via convertible perpetual preferred stock.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-032881 |
| Exhibit: ex_1027436.htm | 0001437749-26-032881 |
| Document: 0001437749-26-032881-index-headers.html | 0001437749-26-032881 |
| Document: 0001437749-26-032881-index.html | 0001437749-26-032881 |
| Document: 0001437749-26-032881.txt | 0001437749-26-032881 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | $5.71 | awaiting T+5 | — | $5.67 (−0.70%) |
Oct 21, 2026 5d ago | 8-K | $5.57 | awaiting T+5 | — | $5.67 (−1.80%) |
Oct 21, 2026 5d ago | 424B5 | $5.57 | awaiting T+5 | — | $5.67 (−1.80%) |
Oct 19, 2026 7d ago | 8-K | $4.80 $5.67 | ▲ +18.13% | ▲ +18.27% | $5.67 (+18.13%) |
Oct 15, 2026 11d ago | DEFA14A | $4.65 $5.57 | ▲ +19.78% | ▲ +20.80% | $5.67 (+21.94%) |
Oct 13, 2026 13d ago | Press Release | $4.88 $5.45 | ▲ +11.68% | ▲ +12.83% | $5.67 (+16.19%) |
Oct 13, 2026 13d ago | 8-K | $4.88 $5.45 | ▲ +11.68% | ▲ +12.83% | $5.67 (+16.19%) |
Oct 9, 2026 17d ago | DEFA14A | $4.86 $4.80 | ▼ −1.23% | ▲ +0.26% | $5.67 (+16.67%) |
Oct 6, 2026 20d ago | DEFA14A | $5.03 $4.88 | ▼ −2.98% | ▼ −2.84% | $5.67 (+12.72%) |
Sep 30, 2026 26d ago | SC 13D/A | $5.42 $4.77 | ▼ −11.99% | ▼ −13.29% | $5.67 (+4.61%) |
US Market Status
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