Metaplanet Takes 96% of Super League to Build a US Bitcoin Treasury
Metaplanet agreed to invest 2,100 Bitcoin and $2.5 million in cash into Nasdaq-listed Super League Enterprise, taking a 95.7% stake. The Japanese firm will rename the company Superplanet and run it as its US Bitcoin treasury platform.
Metaplanet buys a controlling stake in Super League
On 18 August 2026, Metaplanet agreed to invest 2,100 Bitcoin and $2.5 million in cash into Super League Enterprise, a Nasdaq-listed gaming and media company. Metaplanet's US subsidiary will receive 44,859,400 newly issued shares priced at $3.00 each. The agreement values the initial investment at $134.6 million and gives the Japanese firm about 95.7% of Super League's common stock. The Bitcoin portion alone accounts for roughly $132.1 million of that total.
The company will be renamed Superplanet on Nasdaq
At closing, Super League will be renamed Superplanet, Inc. and trade under the ticker SUPA. Metaplanet plans to run the entity as its US Bitcoin treasury platform while keeping Super League's existing advertising and media business as a separate operating segment. Metaplanet will supply balance-sheet support and capital-markets expertise to the platform. The transaction is expected to close in the fourth quarter of 2026. It remains subject to shareholder approval, Nasdaq review, and regulatory procedures in the United States and Japan.
"We've built one of the world's largest Bitcoin treasuries from Japan. Superplanet is how we build in America, the deepest capital market in the world", 18 August 2026. — Simon Gerovich, Chief Executive Officer, Metaplanet
Metaplanet secures board control and warrant rights
Beyond common stock, Metaplanet will receive perpetual preferred shares that give it the right to appoint a majority of Superplanet's board. The deal also grants Metaplanet ten-year warrants for up to 381,000,000 additional shares, with exercise prices ranging from $3.00 to $33.50. A separate right lets Metaplanet invest up to $210 million in junior liquidity preferred stock over 24 months. Metaplanet has agreed to a five-year lock-up on all the Superplanet equity it receives.
The Bitcoin equals about 5% of Metaplanet holdings
The 2,100 Bitcoin represents nearly 5% of Metaplanet's roughly 43,000 Bitcoin, which reporting places among the largest publicly traded corporate treasuries. Existing Super League shareholders will hold about 4.3% of the company once the deal closes. The structure is a private placement of newly issued securities, so the enlarged share count reduces those holders' percentage ownership.
Bitcoin trades near $64,300 at publication
Bitcoin traded at $64,302 at the time of publication, up 0.3% over the past 24 hours versus the previous close (CoinPaprika, 19 August 2026). At that price, the 2,100 Bitcoin in the deal is worth about $135 million. Metaplanet valued the same stake at roughly $132.1 million when it announced the agreement.
Super League shares jumped after the announcement
Super League shares surged as much as 80% during the first hour of trading on 18 August 2026, then pared the gain to around 50% versus the previous close. Metaplanet shares rose just over 4% on the same day. Trading volume in Super League ran far above its recent average. The company must still file a proxy statement and win a stockholder vote before the transaction can complete.
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