Metaplanet Froze a 319 Million Share Insider Pool It Admits Amplified Dilution

Metaplanet told shareholders that the mechanism behind its insider share pool amplified their dilution. The board then froze the pool at 319.5 million shares rather than reversing it. Ten days later the chief executive converted his vested third.

Metaplanet stock fell 9.96% on Tuesday to ¥244. Metaplanet Stock Performance. Source: Yahoo Finance How Metaplanet’s Insider Share Pool Ballooned In 2022 the company was called Red Planet Japan. Its hotels had lost their guests.

Sales were ¥366 million ($2.37 million), the operating loss was ¥858 million ($5.57 million), and it warned it might not survive. Shareholders approved a rescue in February 2023. Seven staff paid ¥18 a unit for options to buy shares at ¥10. The award covered 46 million shares.

That number was never fixed. It always equalled 20% of every share the company could issue. Then Bitcoin (BTC) arrived in April 2024. Metaplanet sold new stock to buy coins, becoming the third-largest corporate holder with 43,000 BTC.