Metaplanet to Launch U.S. Bitcoin Treasury Company Superplanet With 2,100 BTC Seed

Metaplanet (MTPLF) announced a definitive agreement to contribute 2,100 Bitcoin — approximately 4.9% of its 43,000 BTC holdings — and $2.5 million in cash to Super League Enterprise (Nasdaq: SLE) in exchange for 44,859,400 newly issued common shares priced at $3.00, convertible perpetual preferred stock, and long-dated warrants.

Upon closing, expected in the fourth quarter of 2026, Super League will be renamed Superplanet, Inc., adopt the ticker SUPA, and become a consolidated subsidiary of Metaplanet. The Japanese company will own approximately 95.7% of Superplanet’s common stock (93.6% fully diluted for outstanding pre-funded warrants) and control a majority of the board.

The Bitcoin contribution is fixed using the Coinbase closing price on August 14, 2026 and will not fluctuate with the spot price before close. Aggregate investment value is approximately $134.6 million. All Metaplanet-received common shares (and any shares issued on warrant exercise or preferred conversion) are subject to a five-year lock-up.

This is not a reverse takeover or SPAC structure. Super League’s existing gaming media and advertising business will continue as a distinct operating segment under current CEO Matthew Edelman, who will lead Superplanet. Metaplanet will designate the chairman and five of nine directors, including CEO Simon Gerovich.

In a statement, Gerovich framed the move as the logical next step after two years of building one of the world’s largest corporate Bitcoin treasuries from Japan:

“We’ve built one of the world’s largest Bitcoin treasuries from Japan. Superplanet is how we build in America, the deepest capital market in the world. We are putting our own Bitcoin in, locking up our shares, and backing Super League with our balance sheet and expertise. It is one consolidated Bitcoin position, compounding through two listed platforms in Japan and in the U.S.”

He emphasized the capital-markets rationale: the United States hosts a deep investor base for permanent capital — perpetual preferred securities with no maturity, no repayment, and limited common-share dilution — that has no equivalent scale elsewhere. Until now Metaplanet lacked a direct issuance platform into that market.

“So the strategy now runs on two engines. Superplanet raises in America. Metaplanet raises in Japan. Both feed a single Bitcoin position that never leaves the group. When Superplanet raises capital without adding common shares, Bitcoin per share rises there and at Metaplanet at the same time. Two markets, two currencies, two investor bases, one balance sheet compounding.”

The structure is explicitly designed to be accretive to Bitcoin per share at both entities. Superplanet’s Bitcoin will serve as the collateral base for potential future issuances of non-convertible perpetual preferred stock. Any such capital raised without increasing common shares is expected to increase Bitcoin attributable to both Superplanet common stockholders and Metaplanet shareholders on a consolidated basis. Metaplanet’s entire economic interest will rank junior to any future preferred issued by Superplanet.

Metaplanet also retains a 24-month subscription right for up to $210 million of additional non-convertible junior preferred and receives ten-year warrants on up to 381 million Superplanet shares across four exercise-price tranches ($3.00–$33.50).

A new U.S. preferred issuer with established sponsorship

The companies explicitly note that the U.S. market for preferred securities issued by Bitcoin treasury companies “has achieved meaningful scale.” Superplanet is positioned as a new issuer entering that market with the balance-sheet backing, capital-markets track record, and operating know-how of a sponsor already holding 43,000 BTC.

In effect, Metaplanet is planting a Nasdaq-listed vehicle capable of competing for the same permanent-capital flows that have powered Strategy’s STRC and similar digital-credit instruments — while keeping the Bitcoin inside a single consolidated group.

Dylan LeClair of Metaplanet summarized the move simply: “Metaplanet Plants Its Flag in U.S. (and Brings Its Own Bitcoin) by Agreeing to Take Majority Stake in Super League Enterprise.”

Closing remains subject to Super League stockholder approval, Nasdaq filings, and customary regulatory procedures in the U.S. and Japan.