Metaplanet Cuts Series 10 Stock Rights Pool by 41% to Boost Bitcoin Per Share

Tokyo-listed Bitcoin treasury firm Metaplanet Inc. (TSE: 3350) announced on 11 September 2026 that its board of directors resolved to reduce the potential share pool under its 10th Series Stock Acquisition Rights by 41.1%, from 319,464,000 to 188,190,000 shares, following a range of feedback from shareholders and capital market participants. Chief executive Simon Gerovich signed the notice on behalf of the company.

The Board’s Resolution

The amendment cuts the number of shares underlying each stock acquisition right from 696 to 410, lowering the total potential pool by 131,274,000 shares. After deducting the portion already exercised, the remaining potential shares fall by 55.5%, from 236,640,000 to 105,366,000. Unvested rights now carry a new exercise restriction, with three equal portions becoming exercisable on 18 August 2029, 2030 and 2031 respectively. The company also withdrew its plan to transfer up to 90,000 rights to a long-term officer and employee incentive vehicle and will instead design a new compensation plan with a global consultant. The lock-up through 17 August 2031 and the JPY 10 exercise price remain unchanged, and if all remaining rights are exercised the company would receive roughly JPY 1.05 billion.