On September 11, 2026, Metaplanet announced it will cut 131.3 million potential shares from its Series 10 stock acquisition rights following shareholder backlash regarding equity dilution concerns.
The decision was formally communicated through a statement by Simon Gerovich on his official social media account, specifying that the conversion ratio changes from 1:696 to 1:410.
The underlying share pool will decrease from 319.464 million to 188.19 million units, returning to pre-September 2025 levels and extinguishing over $220 million in warrant valuation. Previously issued shares will not be canceled or returned. The firm detailed the binding terms in a regulatory filing in Tokyo published on September 11, 2026, aiming to ease market tension.
This adjustment will increase Bitcoin holdings per fully diluted share by an estimated 8.8 percent for current investors, according to financial projections released by company management on Friday.
Additionally, the enterprise withdrew its proposal to transfer up to 90,000 acquisition rights to a long-term employee incentive vehicle, opting to build a completely new compensation program with consultants.
Remaining unvested rights will face strict exercise restrictions divided equally across 2029, 2030, and 2031, curbing immediate supply pressure on secondary equity markets.
Matthew Sigel, head of digital asset research at VanEck, praised the contractual modification on September 11, 2026, calling it a constructive concession for corporate governance standards. The board deliberated on these structural changes while acknowledging that earlier expansions of the option pool had amplified dilution pressures borne by regular public shareholders.
Asian Expansion and Hong Kong Unit
Alongside capital containment, corporate treasury confirmed plans to incorporate Metaplanet Asset Management Asia Limited in Hong Kong with $1 million in initial capital before late September 2026.
The new subsidiary will operate directly in Bitcoin, equities, and credit products during Asian trading hours, according to an official corporate disclosure published on Friday.
This structure complements earlier strategic moves by the firm, such as plans to establish Superplanet on Nasdaq utilizing a corporate allocation of 2,100 Bitcoin valued at $134 million. Furthermore, the company is evaluating digital credit instruments backed by digital assets in partnership with JPYC, broadening its financial ecosystem throughout Japan this fiscal year.
In June 2026, the corporation agreed to acquire Siiibo Securities for $13.1 million, integrating regulated financial securities infrastructure within the domestic Japanese market.
The technological entity holds a strategic reserve exceeding 43,000 Bitcoin after recently incorporating 2,823 additional tokens to its balance sheet, cementing its status as a major corporate holder.
Despite governance changes, company shares dropped 3.8 percent on September 11, 2026, accumulating a 15 percent decline over five days on the Tokyo Stock Exchange.
Final administrative closures and official entity registrations for the Hong Kong asset management branch remain scheduled before the conclusion of September 2026.
This article is for informational purposes only and does not constitute financial advice.
