In today’s briefing:
- Metaplanet Offering: 555m New Shares to Accelerate BTC Treasury Growth
- Metaplanet Placement: US$1bn Punt; Dependent on Bitcoin Performance
- CLPMF: Clip Money Launches at Walmart in 4,000 US-Based Stores
- Sol Strategies, Inc: 3QFY25 Earnings Validate Business Model
Metaplanet Offering: 555m New Shares to Accelerate BTC Treasury Growth
- Metaplanet launches international equity raise of up to 555m shares, potentially almost doubling share count, targeting approximately ¥130b in proceeds subject to pricing and demand.
- Proceeds earmarked primarily for Bitcoin purchases, potentially adding 4,800–26,800 BTC to treasury holdings, accelerating NAV growth and reinforcing positioning as a Bitcoin balance sheet company.
- Suspension of 20th–22nd series stock acquisition rights through September ensures offering stability and clears path for subsequent preferred share issuance capacity.
Metaplanet Placement: US$1bn Punt; Dependent on Bitcoin Performance
- Metaplanet (3350 JP) is looking to raise around US$1bn from a primary placement.
- The deal is a relatively small one, representing 4.4 days of the stock’s three month ADV, despite being 23.7% of total shares outstanding.
- In this note, we will talk about the placement and run the deal through our ECM framework.
CLPMF: Clip Money Launches at Walmart in 4,000 US-Based Stores
- Clip Money is a rapidly growing NCR-backed start-up based in Ottawa, Canada, and operating in Canada and the US.
- It is helping physical stores and businesses quickly, safely, and less expensively deposit cash into their bank accounts, as well as replenishing notes and coins for store operations.
- The company uses its proprietary software platform to facilitate cash management, and its network is made up of a network of DropBoxes, NCR ATMs located in retail outlets and Green Dot locations starting with Walmart in the US.
Sol Strategies, Inc: 3QFY25 Earnings Validate Business Model
- Solana technology pioneer SOL Strategies (CBOE- CA: HODL) announced its 2Q25 earnings, with revenue of C$3.0 million from validators and staking.
- The company reported adjusted EBITDA of $796,000 versus ($1.56) million in 3QFY24. SOL Strategies saw a realized loss of $546,000 on dispositions of cryptocurrencies in the quarter.
- The company had C$3.2 million in cash at the end of the quarter.
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