Metaplanet’s stock has fallen 54% since mid-June, severely restricting its fundraising capabilities. This drop comes despite Bitcoin’s minor gain of about 2% during the same period.
In light of its stock issues, Metaplanet is planning a public share offering to raise approximately 130.3 billion yen (880 million USD). They are also looking to issue 555 million preferred shares, potentially raising an additional 555 billion yen (3.7 billion USD).
Analysts warn that the reduced Bitcoin premium, currently at 2x compared to the previous 8x, may jeopardize Metaplanet’s fundraising strategies and overall market standing.
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