Metaplanet will contribute 2,100 BTC, worth roughly $132.1 million, along with $2.5 million in cash to Super League Enterprise (Nasdaq: SLE) in exchange for common stock, preferred stock and warrants.
The deal, announced August 18, 2026, will rename Super League to “Superplanet, Inc.” and hand Metaplanet approximately 95.7% ownership, creating a Bitcoin treasury company listed on Nasdaq and backed by the Tokyo-listed firm’s balance sheet.
A $134.6 Million Bitcoin-for-Equity Structure
Metaplanet will receive 44,859,400 shares at $3.00 each, fixed against Bitcoin’s closing price on Coinbase on August 14, 2026, for a total investment near $134.6 million, according to the companies’ joint press release.
All shares issued to Metaplanet, plus any received through warrant exercise or preferred stock conversion, carry a five-year lock-up. Metaplanet will also hold 100 shares of convertible preferred stock, giving it the right to name a majority of Superplanet’s board.
The structure gives Metaplanet, which held 43,000 BTC as of August 18, 2026 and ranks as the world’s third-largest corporate Bitcoin holder, a separate U.S. vehicle to raise capital while its own listing continues raising funds in Japan. Super League CEO Matthew Edelman will lead Superplanet once the deal closes, expected in the fourth quarter of 2026 pending stockholder and Nasdaq approval.
Superplanet’s Nasdaq Listing Adds a New Bitcoin Play
The move gives American investors a Nasdaq-listed alternative for direct Bitcoin treasury exposure, and it ties that exposure to an operating advertising business rather than a shell. Superplanet plans to publish its own Bitcoin-per-share figures after closing, giving shareholders a metric to track separately from Metaplanet’s consolidated reporting.
The pending SEC proxy review adds Superplanet to a list of corporate crypto treasury filings moving through U.S. regulators this quarter, several of which our news desk has covered as public companies restructure their balance sheets around Bitcoin.
The Fourth-Quarter Vote That Decides This Deal
Super League’s stockholders still need to approve the transaction, with Simon Gerovich, Metaplanet’s CEO, stating the company is “putting our own Bitcoin in, locking up our shares” to back the new platform. A definitive proxy statement covering deal terms is expected to be filed with the SEC ahead of that vote, and the companies target a fourth-quarter 2026 close.
What this means for you: If you’re new to corporate Bitcoin treasuries, this deal shows how a public company can convert Bitcoin holdings directly into a listed equity stake rather than just holding coins on its balance sheet.
This article is for informational purposes only and does not constitute financial advice. Do your own research before making any investment decisions.
