Japanese firm Metaplanet is expanding its bitcoin strategy into the United States by taking a controlling interest in Nasdaq-listed Super League Enterprise. Under a definitive agreement announced on August 18, 2026, Metaplanet will transfer 2,100 bitcoin—valued at roughly $132.1 million—plus $2.5 million in cash.
In return, it receives newly issued shares, preferred stock, and warrants that will give it approximately 95.7% ownership of the rebranded company.
Super League, a gaming media and advertising business based in Santa Monica, California, will change its name to Superplanet, Inc. upon closing and trade under the proposed ticker SUPA.
The transaction is structured as a private placement of securities rather than a reverse takeover or SPAC deal.
Super League’s existing operations will continue as a distinct segment under current CEO Matthew Edelman, who will lead the renamed entity.
Metaplanet will appoint the chairman and a majority of the nine-member board, including its own CEO Simon Gerovich.
The share allocation consists of 44,859,400 common shares priced at $3.00 each, fixed using Bitcoin’s Coinbase closing price on August 14, 2026.
Metaplanet also receives 100 shares of convertible preferred stock that confer board-control rights, along with 10-year warrants for up to 381 million additional common shares at exercise prices ranging from $3.00 to $33.50.
All shares obtained by Metaplanet are subject to a five-year lock-up, underscoring a long-term commitment.
The 2,100 bitcoin represents about 4.9% of Metaplanet’s total holdings of approximately 43,000 BTC, positioning the Tokyo-listed company as the world’s third-largest corporate bitcoin holder.
At closing, expected in the fourth quarter of 2026 pending Super League stockholder approval and regulatory clearances in the US and Japan, Superplanet will hold the contributed 2,100 bitcoin on its balance sheet.
These reserves remain within the broader Metaplanet group and will be consolidated for reporting purposes.
The arrangement creates parallel listed platforms—one on the Tokyo Stock Exchange and one on Nasdaq—allowing the group to access capital in different currencies and investor bases while maintaining a single overall bitcoin position.
Metaplanet CEO Simon Gerovich described the move as a natural extension of the company’s Japanese treasury strategy:
“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.”
Future plans include the potential issuance of USD-denominated perpetual preferred stock collateralized by the bitcoin holdings, with proceeds directed toward additional bitcoin purchases.
Operating cash flows from the gaming media business could support any related dividend obligations.
Metaplanet also holds an option to invest up to an additional $210 million in preferred securities over the subsequent 24 months.
By seeding a US-listed vehicle with its own bitcoin rather than raising third-party capital at a discount, Metaplanet aims to compound its treasury across two major markets.
Existing Super League shareholders will retain roughly 4.3% ownership post-closing. The deal highlights growing corporate interest in bitcoin as a treasury asset and offers American investors a new publicly traded vehicle backed by one of the largest corporate holders of the cryptocurrency.