Llanet

Metaplanet has issued 100 million shares' worth of Moving Strike Warrants (MSW) with the world's first mNAV clause attached. Exercise is possible only when the company's stock price is trading at 1.01 times or more of mNAV, and all issued shares are structured to be accretive, thereby increasing shareholder value. As a result, additional funding of approximately 37.1 billion yen (expected amount) for the purpose of Bitcoin acquisition can be raised only when an increase in BTC holdings per share is ensured.