Metaplanet, a Japanese investment company, issued bonds with zero interest to Evo Fund in the Cayman Islands, just one day after it announced a $50 million fund-raising, accelerating their Bitcoin accumulation strategy.
There are 17 series of bonds. issued The bonds will be issued on May 29 and have a nominal value of 525,000 dollars each. They are due to mature in 2025, on November 28. The bonds are not a traditional debt instrument, and therefore do not pay interest. This allows Metaplanet borrows without any additional repayment fees.
Evo Fund can redeem the bonds early, if it gives at least five days’ notice. Redeeming the bonds in any part or full, multiples of $500,000.
Metaplanet could also cause redemptions linked to subsequent fundraising rounds that involve the same investor based on cumulative payments.
As permitted by Japanese law, the bonds are not backed up with collateral, nor is there a bond administrator. Payment handling is handled by the company’s Tokyo office.
Related: Metaplanet issues $50M in new debt to buy more Bitcoin
Metaplanet has raised $135.2 Million this year
Metaplanet is a consistent borrower from the debt markets to finance Bitcoin.BTC) purchases, raising $29.9 million was spent in February. $13.3 million in March The following are some examples of how to get started: $25 million earlier in May.
According to the stated company goal, they will hold 10,000 BTC at the end of 2020. The total amount raised in this year is now $135.2 millions, thanks to this week’s fundraising.
Metaplanet has about 7,800 BTC. according to BitcoinTreasuries.NET, placing it at number 11 among the largest corporate Bitcoin holders. As the holdings are now worth about $840 millions, the average purchase price for each Bitcoin at this company is $91,340.
The company added a new location in March 696 BTC through a combination Exercised Cash-Secured Put Options and Premiums Earned from Selling These Contracts. The purchase was then followed by another. 145 BTC for $13.6 million Just before the end April.
Related: Metaplanet’s Bitcoin ‘premium’ nears $600K per BTC
Metaplanet launches US subsidiary
Metaplanet has announced that it will be launching on May 1. plans to launch a wholly owned Metaplanet Treasury is a US-based subsidiary headquartered in Florida. This entity intends to raise $250 million in order to advance its Bitcoin strategy, and to tap US capital market.
It has attracted numerous notables. Eric Trump was the son of Donald Trump. joined the company’s Strategic Advisory Board In March,
Noteworthy, corporate Bitcoin acquisition strategy has gained momentum. GameStop the US consumer electronics and videogame retailer announced on May 28 that it had acquired a significant amount of Bitcoin. confirmed its first Bitcoin investmentThe purchase of 4,710 Bitcoin.
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Source: cointelegraph.com
