Super League Approves Metaplanet Bitcoin Deal

Super League shareholders approved proposals advancing Metaplanet’s planned investment of 2,100 bitcoin and $2.5 million in cash, a transaction that would give the Japanese company a majority stake in the Nasdaq-listed business and turn it into a U.S. Bitcoin treasury platform. The deal has not closed, and the reported ownership share depends on how potential shares are counted. The company said the proposals were approved at Super League’s annual meeting on October 16. Under the planned terms, Metaplanet would receive 44.86 million common shares, preferred stock and warrants in return for its contribution. Super League’s announcement and related filing describe the approved proposals; closing remains subject to remaining conditions, including Nasdaq procedures and regulatory requirements. Reports put Metaplanet’s expected ownership at roughly 94% to 95.7% after closing, with estimates varying according to assumptions about existing and potential shares. One estimate falls to about 93.6% if existing prefunded warrants are exercised. These figures are projections under different share-count assumptions, not evidence that the transaction has been completed. The planned...