Metaplanet Rises 4% on Dividend Shares

Key Notes

• Metaplanet’s new fundraising through a revised capital structure will go towards further Bitcoin acquisitions.
• The company approved new Class A and Class B preferred shares, featuring floating and periodic dividends, flexible buyback options, and other benefits.
• Metaplanet stock has rebounded from its November lows but remains far below its all-time high from June 2025.

Metaplanet stock rose 4.16% during closing hours on the Tokyo Stock Exchange on Dec. 22 after the company announced changes to its capital structure.

The firm plans to raise funds through dividend-paying preferred shares, aiming to attract institutional investors.

Metplanet Stock Saw a Healthy Bounce on New Capital Structure

Metaplanet stock reclaimed the 450 JPY level during trading on Dec. 22 as shareholders approved five major proposals, including issuing dividend-paying preferred shares to raise capital and expand the company’s Bitcoin holdings.

Dylan LeClair, the company’s Bitcoin strategy director, stated that the approved measures allow Metaplanet to reclassify capital reserves to support preferred share dividends and potential buybacks, which is double the authorized issuance of both Class A and Class B preferred shares.

The measures also revise dividend structures to include floating and periodic payouts. The company also received approval to issue Class B preferred shares directly to international institutional investors.

At the time of writing, Metaplanet held approximately 30,823 Bitcoin

BTC
$90 091



24h volatility:
1.6%


Market cap:
$1.80 T



Vol. 24h:
$33.00 B

, valued at about $2.75 billion.

This makes it the fourth-largest corporate holder of BTC worldwide, and the largest in Asia.

The governance changes mark a strategic shift away from a pure growth-through-dilution model toward a more traditional capital markets approach.

Instead of offering direct Bitcoin yield, Metaplanet is using preferred equity to package exposure to its Bitcoin holdings in a structure more familiar to institutional investors.

Key Changes With Class A and Class B Preferred Shares

One of the major amendments is in the company’s Class A preferred shares to introduce a monthly, floating-rate dividend known as the “Metaplanet Adjustable Rate Security.”

This will provide investors with predictable income streams that cater to institutional cash-flow requirements.

Class B preferred shares were also revised to include quarterly dividends, a 10-year issuer call option at 130% of face value.

There’s also an investor put option that can be exercised if a qualifying IPO tied to the security does not occur within one year. This structure allows Metaplanet to repurchase the shares at a premium after a decade.

These features mirror protections commonly found in private credit and structured equity markets. It also reduces the downside risks for long-term capital providers.

As a result of this development, Metaplanet stock has seen a healthy bounce. The stock has bounced from the support of 338 JPY seen last month in November.

At the time of writing, the stock is up 26% year-to-date but still 75% below its all-time high of 1,900 JPY reached in June 2025.

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