Add as a preferred source on GoogleSuper League Shareholders Approve Metaplanet Deal for 2,100 Bitcoin
Metaplanet would contribute 2,100 BTC and $2.5 million at closing in exchange for about 44.86 million common shares, strategic alliance preferred shares and warrants.
Super League shareholders approved a deal under which Metaplanet would contribute 2,100 Bitcoin (BTC) and $2.5 million at closing.
Metaplanet would contribute the Bitcoin and cash at closing. In return, Metaplanet would receive about 44.86 million common shares, strategic alliance preferred shares and warrants. The shares would be subject to a five-year lock-up.
After closing, Super League would be renamed Superplanet, and its ticker would change from SLE to SUPA. The deal would give Metaplanet a U.S.-listed Bitcoin treasury platform.
Metaplanet would also have the right to invest up to an additional $210 million through preferred stock subscriptions during the 24 months after closing. That investment is optional and separate from the initial Bitcoin and cash contribution.
Metaplanet would contribute the Bitcoin and cash at closing.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.