- Metaplanet is investing around $137 million in Nasdaq-listed Super League Entertainment.
- The deal gives Metaplanet roughly 96% ownership of the company.
- Metaplanet is contributing 2,100 BTC plus $2.5 million in cash.
- Super League will be renamed Superplanet and become Metaplanet's US-listed Bitcoin treasury vehicle.
- The company plans to use its Bitcoin holdings to build additional financial products.
Metaplanet, often described as Japan's version of Strategy, is expanding into the US by taking a roughly 96% stake in Nasdaq-listed Super League Entertainment.
The deal is worth around $137 million and will transform Super League into Metaplanet's US-listed Bitcoin treasury company.
Metaplanet will purchase around 44.9 million new Super League shares at $3 each, along with preferred stock and warrants. The transaction also includes 2,100 BTC and $2.5 million in cash.
Once the deal closes, Super League will be renamed Superplanet Inc. and will trade under the ticker SUPA.
The transaction is expected to close in the fourth quarter.
Super League shares initially surged as much as 80% after the announcement before giving back some of the gains. Metaplanet shares also moved higher.
Why 2,100 BTC matters
Metaplanet currently holds around 43,000 BTC, making it one of the largest publicly traded Bitcoin treasury companies in the world.
The 2,100 BTC contribution represents less than 5% of its existing Bitcoin holdings.
Unlike many recent Bitcoin treasury deals that rely on discounted financing or outside investors, Metaplanet is using Bitcoin directly from its own balance sheet.
The company says the new US vehicle will retain Super League's existing gaming media operations while also functioning as a dedicated Bitcoin treasury.
Superplanet plans to potentially use its Bitcoin holdings as collateral for preferred stock offerings, similar to Strategy's approach, with income from the business used to help pay dividends.
Metaplanet wants more than just Bitcoin
The US expansion is part of Metaplanet's broader plan to build financial products around Bitcoin rather than simply holding the asset.
The company recently acquired Japanese brokerage Siiibo Securities, which it plans to use to develop Bitcoin-backed fixed-income products known as "Bitbonds."
Metaplanet refers to this wider expansion as Project Nova, with the goal of turning the company into a broader Bitcoin-focused financial platform.
