Acquisition · Digital media / bitcoin treasury
Metaplanet swaps 2,100 bitcoin for control of Nasdaq-listed Super League
- Buyer
- Metaplanet (via Metaplanet Holdings) (Tokyo)
- Target
- Super League Enterprise (to be renamed Superplanet), Santa Monica, California
- Value
- 2,100 bitcoin (about $132.1M) plus $2.5M in cash, for about 95.7%
- Status
- Super League shareholders approved the deal; closing is expected in October–December 2026, subject to US and Japanese approvals.
- Date
- 2026-08-18
Metaplanet, a Tokyo company that holds bitcoin as its main business, agreed to put 2,100 bitcoin from its reserves and $2.5 million in cash into Super League Enterprise, a small Nasdaq-listed games and media company, in return for new shares, preferred stock and warrants. Metaplanet would own about 95.7% and appoint most of the board. Super League would be renamed Superplanet, trade as SUPA and become Metaplanet's US bitcoin treasury company.
Why it matters
It gives Metaplanet a US-listed company to raise money from American investors for buying more bitcoin, copying the model of Strategy (formerly MicroStrategy).
What Metaplanet gets
Metaplanet's US unit receives 44,859,400 common shares at $3.00 each, 100 preferred shares that let it name most of the board, and ten-year warrants for up to 381 million more shares at $3.00 to $33.50. It can also buy up to $210 million of a junior preferred stock over two years. Its common shares are locked up for five years. The share count was fixed at the August price, so it does not change with bitcoin.
Running Superplanet
Super League's chief executive, Matt Edelman, stays on, and its game advertising business continues as a separate segment. Metaplanet will name five of the nine directors, including its CEO Simon Gerovich. The plan is to use the bitcoin as backing to sell perpetual preferred shares to US investors. Super League holders approved the share issue on October 16, 2026. Metaplanet held about 43,000 bitcoin at the time of the deal, so the 2,100 it put in were less than 5% of its holdings.
Sources
Kakehashi M&A News home
