# Super League Shareholders Approve Share Issuance for Metaplanet Plan

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/36668
Published: 2026-10-21T12:39:22.000Z
Updated: 2026-10-21T12:39:22.000Z
Section: Business

> The vote satisfied a shareholder approval requirement under Nasdaq listing rules. The proposed 2,100 Bitcoin transaction remains subject to closing conditions.

Shareholders of Nasdaq-listed Super League Enterprise, Inc. approved a share issuance tied to Metaplanet, Inc.’s proposed contribution of 2,100 Bitcoin (BTC) and $2.5 million, clearing a required vote before the transaction can close.

At the Oct. 16 meeting, shareholders cast 1,055,621 votes for the issuance, 25,314 against and 19,343 abstentions. There were also 316,141 broker non-votes. Nasdaq listing rules required shareholder approval before the proposed issuance; the vote did not approve the transaction agreements themselves.

The issuance covers shares under agreements with Metaplanet’s U.S. subsidiary, Metaplanet Holdings, Inc., and Evo Fund. If the transaction closes, Metaplanet Holdings would receive 44,859,400 common shares priced at $3 each, along with preferred shares and warrants, in exchange for the Bitcoin and cash. The common shares would be subject to a five-year transfer lockup, with exceptions.

The common share count was set using an Aug. 14 valuation of about $132.1 million for the 2,100 BTC, measured at 4 p.m. ET (20:00 UTC). The same amount of Bitcoin was valued at about $170 million as of Oct. 16. A change in Bitcoin’s price before closing will not alter the common share count.

Metaplanet would also receive warrants to buy up to 381 million additional shares over 10 years. Separately, it would have the option to invest up to another $210 million through preferred stock during the 24 months after closing. That optional investment is separate from the initial Bitcoin and cash contribution.

If the deal closes, Super League intends to adopt the Superplanet, Inc. name and SUPA ticker. The company plans to keep operating its advertising and media business. Super League expects the transaction to close in the fourth quarter of 2026, subject to closing conditions.