TL;DR
- Stake acquisition: Metaplanet plans a 95.7% stake in Super League through a $134.6 million Bitcoin‑backed deal.
- Platform strategy: The firm contributes 2,100 BTC and gains warrants plus rights to invest $210 million more.
- Corporate transition: Super League becomes Superplanet under ticker SUPA, with leadership split and closing expected in Q4.
Japanese Bitcoin treasury firm Metaplanet is moving to establish a major foothold in the United States through a sweeping agreement that would transform Nasdaq‑listed Super League Enterprise into its dedicated U.S. Bitcoin treasury platform. The company plans to take a 95.7% stake in Super League via a $134.6 million investment seeded with Bitcoin and cash, marking one of its largest strategic moves to date.
Strategic stake built on Bitcoin reserves
Under the terms announced, Metaplanet will contribute 2,100 Bitcoin valued at $132.1 million, along with $2.5 million in cash, in exchange for 44.9 million common shares priced at $3 each, preferred stock and warrants. Super League, which held a market value of roughly $5 million at Monday’s close, will be renamed Superplanet and trade under the ticker SUPA. Shares of SLE have surged to $5.20, rising more than 70%.
The deal arrives in the aftermath of the 2025 digital‑asset treasury boom, a period that left many Bitcoin‑holding companies trading below the value of their reserves. Falling stock prices and mounting debt forced several firms to unwind positions or abandon treasury strategies. Existing Super League shareholders are expected to retain about 4.3% of the company once the transaction closes.
Expanded investment rights and long‑term platform plans
As part of the agreement, Metaplanet will receive 10‑year warrants covering up to 381 million additional shares at exercise prices ranging from $3 to $33.50. The company is using its existing BTC holdings for the initial investment, noting that the contribution represents less than 5% of its reserves. CEO Simon Gerovich said the firm has the ability to allocate more Bitcoin as the platform scales.
The company will also have the right to invest an additional $210 million through non‑convertible preferred stock over the next 24 months. Superplanet intends to use its Bitcoin as collateral for future preferred stock offerings, supported by operating income and other cash flows to cover dividends.
Superplanet’s current business will continue as a separate operating segment. CEO Matthew Edelman will lead Super League, while Metaplanet will appoint five of the nine directors. The transaction is expected to close in the fourth quarter.
