Japanese Bitcoin treasury company Metaplanet has secured shareholder approval to establish a U.S.-based Bitcoin treasury firm through Super League, which will be renamed Superplanet. The transaction will give Metaplanet more than 93% ownership of the company in exchange for a contribution of 2,100 BTC and cash.
Metaplanet CEO Simon Gerovich confirmed the approval in a post on X, describing the development as a major milestone in the company's strategy to build a global Bitcoin-focused financial platform.
The deal, initially announced two months ago, will provide Metaplanet with direct access to U.S. capital markets, expanding its ability to raise funds and pursue international investment opportunities.
Gerovich emphasized that Superplanet and Metaplanet Securities in Japan will operate as complementary platforms, supporting the company's expansion into Bitcoin treasury management, financing, financial products, and asset management.
According to Metaplanet's Head of Bitcoin Strategy, Dylan LeClair, the company will contribute 2,100 Bitcoin and $2.5 million in cash upon completion of the transaction.
In return, Metaplanet will receive 44.86 million common shares, 100 shares of Strategic Alliance Preferred Stock, and warrants potentially representing up to $3.4 billion in equity capital.
The agreement will give Metaplanet approximately 94% ownership of Superplanet, with its common shares subject to a five-year lock-up period.
The preferred shares will provide governance rights rather than dividend payments or liquidation preferences. Metaplanet's approval will be required for significant corporate decisions, including mergers, charter amendments, changes in control, and the appointment of a board majority.
Superplanet also intends to expand its Bitcoin reserves by issuing senior, non-convertible perpetual preferred stock, creating another potential funding mechanism for future BTC acquisitions.
With an initial treasury of 2,100 BTC, Superplanet would rank approximately 35th among publicly tracked corporate Bitcoin holders, according to BitcoinTreasuries data.
Meanwhile, Super League (SLE) shares surged more than 9% following the shareholder approval announcement, trading near $5. The stock has also gained over 61% during the past three months, according to TradingView.
The transaction represents a significant step in Metaplanet's international expansion, positioning Superplanet as its U.S. vehicle for Bitcoin accumulation and capital market financing.
