Metaplanet is raising $137 million to pay down debt and buy even more bitcoin

Metaplanet is set to raise up to 21 billion yen ($137 million) to fuel its aggressive bitcoin (BTC) buying spree and pay down debt. The Tokyo-based firm will generate the funds through a sale of new shares and stock warrants aimed at a group of select investors. Metaplanet will issue 24.53 million new common shares at 499 yen per share, around 5% above the prior close, raising approximately 12.24 billion yen in upfront proceeds. The company's shares closed at 456 yen, 4% lower on the day, reflecting sh ...