Metaplanet is set to gain control of Nasdaq-listed gaming and digital media company Super League after its shareholders approved a transaction giving the Japanese Bitcoin treasury firm a 93.7% ownership stake. The deal is designed to create a US-listed platform that can raise capital for additional Bitcoin purchases.
Bitcoin and cash contribution
Under agreements involving Metaplanet and Evo Fund, Super League shareholders approved the issuance of up to 435.9 million common shares. Metaplanet will provide 2,100 BTC and $2.5 million in cash in return for 44.86 million common shares, 100 shares of convertible perpetual preferred stock with governance rights, and 10-year warrants to acquire additional common stock, according to Cointelegraph’s report on the company’s announcement and filing with the US Securities and Exchange Commission.
The preferred shares and the size of the share issuance are central to the structure of the transaction. Once completed, Metaplanet will be able to appoint a majority of Super League’s board and approve major corporate decisions. Its common shares received in the deal will be subject to a five-year lock-up, limiting their transferability during that period.
From Super League to Superplanet
Super League plans to change its name to Superplanet and use the Nasdaq ticker SUPA. The company’s stated strategy will focus on increasing the amount of Bitcoin held per share, making its corporate structure more directly centered on its digital-asset treasury.
Instead of depending mainly on borrowing, Superplanet intends to fund further Bitcoin purchases through senior, non-convertible perpetual preferred shares. Metaplanet will also have the option to invest as much as $210 million in junior preferred stock, providing another potential source of financial support.
The proposed arrangement would give Metaplanet access to US-dollar capital markets and allow it to complement its existing yen-based financing in Japan. In an October 15 SEC filing, Super League said the US market for preferred securities issued by Bitcoin treasury companies had become large enough to support new entrants.
Metaplanet expands its Bitcoin strategy
The transaction comes as Metaplanet continues building its Bitcoin holdings. The company has accumulated 44,000 BTC and is described in the source material as the second-largest publicly traded corporate Bitcoin holder, behind Strategy.
Earlier this month, Metaplanet proposed allocating up to 15% of its total assets to strategic investments intended to help finance Bitcoin purchases and dividend payments. The Super League transaction represents a further step toward using a publicly traded US company and preferred-stock financing as part of that broader strategy.
Current market picture
Moneyiar market data at 22:14 on October 19, 2026, shows Bitcoin at $82,022.99, up 0.59% over 24 hours but down 0.73% over seven days. The figures provide a snapshot of Bitcoin’s market level as Metaplanet advances a transaction whose value and financing plans are closely tied to the asset.
