Super League Holders Approve Metaplanet's 2,100 BTC Investment

Stockholders of US-listed Super League (Nasdaq: SLE) approved all proposals tied to Metaplanet's investment, in which the Japanese company will contribute 2,100 BTC and $2.5M in cash. The vote took place on October 16; Super League announced the result on October 19 at 8:00 a.m. ET.

Details

The deal was announced on August 18. According to Super League's press release, the contribution was valued at about $132.1M on August 14 and about $170.0M as of October 16. In return, Metaplanet receives 44,859,400 common shares at $3.00 each (subject to a five-year lock-up), 100 shares of convertible perpetual preferred stock and warrants with exercise prices from $3.00 to $33.50.

Once the deal closes, Metaplanet will hold about 95.7% of Super League's common stock. The company will be renamed Superplanet, Inc. and trade under the ticker SUPA; Matt Edelman stays on as CEO. He said the approval "brings us one step closer to redefining what this company can become."

Closing is expected in the fourth quarter of 2026, subject to customary conditions, including Nasdaq-related filings. For background on corporate bitcoin holders, see Companies Holding Bitcoin.

What it means for the market

The 2,100 BTC is under 5% of Metaplanet's roughly 43,000 BTC. The structure gives the Japanese company a US-listed vehicle for raising capital against its bitcoin treasury, with Superplanet designed to act as its American listing platform.

Until closing, the bitcoin stays with Metaplanet. For the current bitcoin price, see the front page. This is not investment advice.