Metaplanet Holders Approve New Funding Tools to Buy Bitcoin (1)

Japanese Bitcoin treasury Metaplanet Inc. secured shareholder approval for a proposal enabling it to raise as much as ¥555 billion ($3.8 billion) via preferred shares, in a bid to expand its financing options after its stock slumped.

Shareholders of the hotel-operator-turned-Bitcoin-proxy voted in favor of authorizing 555 million preferred shares for potential issuance at a meeting in Tokyo on Monday, according to an announcement by Metaplanet’s president Simon Gerovich on social media site X.

The company confirmed the vote outcome in a disclosure on its website on Tuesday afternoon.

Preferred shares are securities combining features of equity and ...