Key facts
- Metaplanet is acquiring Super League Enterprise for $134.6 million, contributing 2,100 BTC and $2.5 million in cash.
- Super League Enterprise will be renamed Superplanet and will function as a US Bitcoin treasury platform.
- Metaplanet will own approximately 95.7% of Superplanet's common stock upon closing.
- The deal is Metaplanet's first operating foothold outside Japan.
- Super League Enterprise's stock surged over 85% following the announcement.
Metaplanet, a Tokyo-listed firm that has become a significant corporate Bitcoin holder, is expanding its operations to the United States through the acquisition of Super League Enterprise for approximately $134.6 million. The Nasdaq-listed gaming media company will be renamed Superplanet, Inc. and will operate as a US-based Bitcoin treasury platform under the ticker SUPA. Metaplanet will contribute 2,100 BTC, valued at around $132.1 million, along with $2.5 million in cash, in exchange for stock, preferred shares, and warrants, securing about 95.7% ownership of Superplanet's common stock at closing.
Metaplanet CEO Simon Gerovich described the acquisition as a strategic move to compound a single group Bitcoin position across two listed platforms, leveraging the US capital market. This expansion marks Metaplanet's first operating presence outside Japan. The company currently holds 43,000 BTC, positioning it as a major corporate Bitcoin holder. Analysts, including Mark Palmer of Benchmark-StoneX, highlighted that the deal's funding with Metaplanet's own Bitcoin, rather than discounted third-party capital, distinguishes it from other recent treasury deals. Palmer noted the fixed share count, equity valuation near Super League's prior close, and a five-year lock-up on Metaplanet's shares as key differentiating factors.
Super League Enterprise's existing advertising business will continue to operate as a separate segment. The deal is expected to close in the fourth quarter, subject to customary conditions including stockholder approval. Following the announcement, Super League Enterprise's stock surged over 85% to $5.66, while Metaplanet's stock saw a 5.07% increase, closing at 228 JPY. The rebound in Bitcoin's price above $64,000 has also fueled investor interest in Bitcoin-related equities.