Japan’s Metaplanet to Launch U.S. Bitcoin Treasury Firm with $135 Million Deal

Japan’s Metaplanet to Launch U.S. Bitcoin Treasury Firm

Japanese bitcoin treasury firm Metaplanet is making significant strides in the U.S. market by planning to acquire a 95.7% stake in Super League Enterprise (SLE) for approximately $134.6 million. The investment will transform SLE into a new bitcoin treasury platform named Superplanet.

Details of the Investment

The deal involves Metaplanet contributing 2,100 bitcoin, valued at $132.1 million, along with $2.5 million in cash. This investment will allow Metaplanet to acquire 44.9 million common shares at a price of $3 each, alongside preferred stock and warrants.

Following the completion of the transaction, Super League, which had a market capitalization of around $5 million, will be rebranded as Superplanet and trade under the ticker SUPA. The share price of Super League has seen a notable increase, trading at $5.20, reflecting a rise of over 70%.

Market Context and Future Plans

This development comes on the heels of the collapse of the 2025 digital-asset treasury boom, which has severely impacted bitcoin-holding companies, leading many to trade below their holding values. Some companies have been forced to sell off assets, repay debts, or change strategies entirely.

Once the acquisition is finalized, existing shareholders of Super League will retain about 4.3% ownership. Metaplanet will also have access to ten-year warrants for up to 381 million additional shares, with exercise prices ranging from $3 to $33.50.

Leadership and Next Steps

CEO Simon Gerovich stated that Metaplanet started this investment using less than 5% of its bitcoin holdings, with intentions to reinvest as the Superplanet platform expands. The company is also entitled to invest an additional $210 million through non-convertible preferred stock within the next 24 months.

Superplanet aims to leverage its bitcoin holdings as collateral for future preferred stock offerings, with its operational income and other cash flows designated to cover dividends. The existing business of Super League will operate separately, while the new entity will be overseen by CEO Matthew Edelman, with Metaplanet appointing five of the nine directors.

The closure of this transaction is anticipated in the fourth quarter. As of now, CoinDesk has reached out to Metaplanet for further comments, but has yet to receive a response.