According to a recent announcement, the Japanese investment firm has issued its 16th series of ordinary bonds, valued at $50 million, to the venture capital firm EVO FUND. This marks the largest bond issuance to date for the Tokyo-based company.
Following the approach of its previous bond offerings, the firm plans to use the proceeds to acquire additional Bitcoin. As of May 19, the company holds 7,800 BTC, with a total Bitcoin investment worth approximately $846.9 million based on current market prices.
Metaplanet’s CEO, Simon Gerovich, stated that the company aims to accumulate 10,000 BTC by the end of 2025. After purchasing 1,004 BTC on May 19, Metaplanet has now achieved 78% of this goal, positioning itself as one of the largest corporate Bitcoin holders in Asia
According to the announcement, the bonds are non-interest bearing and can be fully redeemed on November 27 at a face value of $1.25 million per bond. However, EVO FUND has the option to redeem the bonds early by giving Metaplanet at least five business days’ written notice prior to the intended redemption date.
Outstanding bonds can be redeemed early, in whole or in part. Additionally, if Metaplanet conducts another fundraising round involving EVO FUND in the future, the total amount paid by EVO FUND to Metaplanet may vary depending on the outcome of that fundraising.
Furthermore, if the funds raised after the bond issuance reach multiples of $1.25 million—the face value of one bond—Metaplanet may redeem a corresponding number of bonds at a rate of $1 per $1 of face value on the next trading day.
