Metaplanet Inc. (OTC:MTPLF) has approved a $127 million capital raise through a third-party allotment by issuing new shares to buy more Bitcoin (CRYPTO: BTC), but the stock is down by 3.5%

The Capital Raise Structure

Metaplanet is issuing 24.53 million new common shares at ¥499 per share through a third-party allotment, raising approximately ¥12.24 billion ($127 million) with settlement scheduled for February 13.

The company also issued 159,440 warrants (called Stock Acquisition Rights in Japan) priced at ¥523 each with an exercise price of ¥547 per share. 

If exercised, the warrants generate an additional ¥8.8 billion and add 15.94 million shares.

The total potential dilution: 3.54%…

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