Core Viewpoint - Metaplanet is launching a new preferred-share structure called MARS, aimed at expanding its corporate Bitcoin treasury, modeled after Strategy's Bitcoin funding vehicle [1][2]. Group 1: New Capital Instrument - Metaplanet's CEO announced that shareholders will vote on the MARS capital instrument, designed specifically for raising capital to purchase more Bitcoin [2]. - MARS shares are classified as senior, non-dilutive Class A preferred stock, positioned above other equity classes in the capital structure [3]. Group 2: Financial Structure and Strategy - Proceeds from MARS shares will be allocated towards Bitcoin accumulation as part of Metaplanet's long-term treasury strategy [4]. - MARS shares will offer adjustable monthly dividends, with rates that fluctuate based on stock performance relative to par value, aiming to provide steady income while minimizing price volatility [4]. Group 3: Comparison with Strategy's STRC - The MARS structure is similar to Strategy's STRC preferred stock, which has delivered an annualized dividend of approximately 10.75% and has been effective in maintaining a stable price [5]. - Since its launch, STRC has returned over 10% and has contributed significantly to Strategy's Bitcoin treasury growth, with substantial BTC purchases funded through its preferred offerings [6][7].