Metaplanet Clears 2,100 BTC Vote, Nasdaq Ticker SUPA Is Next
Super League stockholders approved every proposal tied to Metaplanet's 2,100 BTC investment, clearing the route to a Nasdaq-listed Bitcoin treasury called Superplanet. The Japanese firm gets U.S. capital markets access without an IPO. Watch the preferred share increase, because that's where the dilution lives.
Super League stockholders just handed Metaplanet the keys to the U.S. market. Every proposal tied to the Japanese firm's 2,100 BTC investment cleared at the 2026 annual meeting Friday, with results disclosed Monday morning.
Here's the swap. Metaplanet sends 2,100 Bitcoin plus $2.5 million in cash through its U.S. arm, Metaplanet Holdings. In return it gets 44,859,400 common shares at $3.00 apiece, along with preferred stock and warrants. The company gets renamed Superplanet, Inc. and trades on Nasdaq under SUPA. Matt Edelman stays CEO and the gaming ad business keeps running as a separate segment.
What you need to know: holders also approved raising authorized preferred shares from 10 million to 100 million. That's a big pile of dry powder for future raises. Closing is expected in Q4 2026, subject to Nasdaq filings. Friday's vote was a required step, not the last one.
Metaplanet held 43,000 BTC as of Aug. 18, the third-largest corporate treasury among public companies. The 2,100 coins going out the door are under 5% of the stash, so this is a structural move, not a liquidation. CEO Simon Gerovich called it "an important step in our transformation from a Bitcoin treasury company into a global Bitcoin-native financial platform." Post-close the group runs two listed treasuries, one on the Tokyo Stock Exchange and one on Nasdaq, each with its own investor base and reporting currency.
One detail worth flagging. The agreement sets conditions on when Metaplanet can dispose of the equity it's receiving. No exceptions were spelled out.
Quick hits: Super League's day job is selling advertising into gaming, a claimed 3.3 billion-person audience. That business doesn't disappear. Shares moved higher on the news.
My take: this is the cleanest template yet for a non-U.S. treasury company buying its way onto Nasdaq. No IPO. No SPAC. Just stock for Bitcoin with a media company bolted on. Watch how fast that preferred share authorization gets used. If it gets tapped quickly, dilution math will matter more to SUPA holders than the 2,100 coins ever will.