IR explanation (It is long).
The IR has been released. I will explain it.
I'm sorry if there was a mistake. If you point it out in the comments, I will correct it immediately.
Below, I will organize and describe the complex key points of the IR content.Afterwards, I will summarize the important points briefly.
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MetaPlanet Co., Ltd. announces fundraising through the issuance of new share subscription rights.
MetaPlanet Co., Ltd. is It has been decided to issue the 12th new stock subscription rights through a third-party allocation of shares scheme with EVO FUND as the planned allocation destination.With this scheme,a maximum of about 9.5 billion yen fundraisingis expected. The funds are mainly intended forthe purchase of bitcoin.It is.
Details of IR content
1. Overview of new share subscription rights
MetaPlanet Co., Ltd. announces fundraising through the issuance of new share subscription rights.
MetaPlanet Co., Ltd. is It has been decided to issue the 12th new stock subscription rights through a third-party allocation of shares scheme with EVO FUND as the planned allocation destination.With this scheme,a maximum of about 9.5 billion yen fundraisingis expected. The funds are mainly intended forthe purchase of bitcoin.It is.
Details of IR content
1. Overview of new share subscription rights
Issuance details:
Number of shares issued: 29,000units (100 common shares per unit)
Number of exercisable potential shares: maximum2,900,000shares.
• Lower exercise price: 1,500yen.
• Initial exercise price: 3,288yen.
Exercise period:
•2024December 17, 2023 - June 16, 2025。
2. Setting and modification of exercise prices
•Initial exercise price: 3,288yen in setting.
Number of exercisable potential shares: maximum2,900,000shares.
• Lower exercise price: 1,500yen.
• Initial exercise price: 3,288yen.
Exercise period:
•2024December 17, 2023 - June 16, 2025。
2. Setting and modification of exercise prices
•Initial exercise price: 3,288yen in setting.
Correction process:
• Corrections areBegins on January 7, 2025day.
• The VWAP of the last 11 trading days before the correction dateweighted average price of trading volume largest holdings.97Price is reset based on the percentage.
• The VWAP of the last 11 trading days before the correction dateweighted average price of trading volume largest holdings.97Price is reset based on the percentage.
• However,If VWAP falls below 1,500 yen, the exercise price is fixed at 1,500 yen.。
Design intent:
• Adjust the exercise price flexibly, and in case the stock price risesWhile aiming to increase the amount raised, ensuring the minimum fundraising potential through the exercise price floor.。
3. Overview of fundraising
Amount to be raised:
3. Overview of fundraising
Amount to be raised:
• Up to approximately 9.5 billion yen (If all options are exercised, fundraising will be conducted at the initial exercise price）。
使途:
•ビットコインの購入: 約9.1 billion7,000yen.
•運転資金: 約0.3 billion4,000万円。
Background and objectives:
• Strategic pivot to make bitcoin a major reserve asset.
• Risk avoidance from depreciation of the yen and response to inflation.
4. Scheme and benefits of raising funds.
Benefits
4. Scheme and benefits of raising funds.
Benefits
1. Increase in the amount of funds raised during the rise in stock prices.
Dividing exercise over a certain period helps mitigate impact on the market.
As the maximum number of shares to be issued is limited,the scale of dilution is clear。
Dividing exercise over a certain period helps mitigate impact on the market.
As the maximum number of shares to be issued is limited,the scale of dilution is clear。
Drawbacks:
1. Risk of reduced fundraising amount during a low stock price.
2.Dilution (equivalent to approximately 8% of total issued shares).。
3. Potential delay in exercise progress due to initial exercise price higher than market closing price.
【Important points】
1.Flexible exercise price adjustment.:
The exercise price is flexibly adjusted based on the market price, designed based on the VWAP of 11 business days. The minimum exercise price is 1,500 yen.
2.Clarification of fund usage.:
Fundraising purposes.Approximately 96% is allocated to purchasing bitcoin.Working capital is kept to the minimum required amount.
3.Transparency of the scheme:
The reliability of EVO fund has been verified and it has been clarified that there is absolutely no involvement with antisocial forces.
4.Market impact management.:
Careful design of staged exercise to minimize dilution impact on the stock market.
【Summarizing this IR broadly:
•Issuance and fund procurement.:
Maximizing stockPlanning to issue 2.9 million new shares, raising approximately 95 billion yen.Expected to raise funds of approximately 95 billion yen.
•Mechanism for adjusting exercise price based on market trends.:
Possibility to secure fundraising at a minimum price of 1,500 yen depending on market conditions.。
•Use of funds.:
Approximately 96% allocated to purchasing bitcoin.
•Meaning of the scheme.:
Designed considering the balance between fundraising and market impact, aiming for long-term growth.
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This is a funding through MS warrants,There is no allocation to retail investors (individuals).New share subscription rights for retail investors are expected to be after the extraordinary general meeting, so please be careful not to make any mistakes.
The focus this time is on the adoption of MS warrants,
I think the key point lies in the use of MS warrants.Unlike regular warrants, the exercise price is flexibly adjusted in relation to the stock price, which is a characteristic.Unlike regular warrants, one of the key features is that the exercise price is flexibly adjusted in correlation with the stock price.
The biggest advantage is,The ability to raise funds while reflecting the market stock price.BTC is currently aiming for 0.1 million dollars, and as the BTC price rises, the amount of Metaplanet's assets will increase. In response to such market changes,I see it as an MS warrant to respond to market fluctuations.I consider it as an MS warrant.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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KohaShui OP : I have noticed something.
The last time we released the general meeting IR, I forgot some numbers, but we issued new shares, right?
The number minus the new shares for this evo can be allocated for additional investment to individual investors later. (financial estimates)
KohaShui OP : The exercise start date is December 17th.
So, starting from 3300 yen with a lower limit of 1500 yen.
It's possible to raise funds quickly as well.
You can ask the short selling agency to push the price down, exercise it at the lower limit, and buy it back at the same time as exercising IR.
It's possible to do something like that.
You should keep that in mind.
TIENLUONGDO : Thank you always
It's good to remember 1500 and 3300.
In any case, the stock price is falling on PTS, perhaps due to dilution. It's not good for the heart to hold this stock without a long-term view! lol
KohaShui OP TIENLUONGDO : It really is
It would be too scary if you carried it over on credit
TIENLUONGDO KohaShui OP : It's exactly me... ( ｉ _ ｉ )
jerrylee : Thank you for the summary. As expected!
I was thinking, both Meta and EVO are amazing players!
There seems to be a story worthy of writing a book later on.
I got excited seeing that it was a suggestion from EJS!
jerrylee TIENLUONGDO : I try to sell all my Metapura credit every day and end it.
I've experienced painful lessons by holding onto it multiple times
Somehow, the morning volatility might be the most profitable.
jerrylee KohaShui OP : I think that's the agenda for the general meeting, but is it okay to act before the resolution? I'm not sure about that part...
KohaShui OP jerrylee : It seems that new shares are about to be issued at the maximum number of shares that can currently be issued.
Therefore, there does not seem to be a correlation between raising the number of shares and this capital increase.
jerrylee KohaShui OP : I see, I see.
The excitement of EVO is really coming through!
Gaming was considered by EVO, embraced by Lannett Co Inc.
I wonder what kind of whirlwind will involve all the shareholders betting on Lannett Co Inc...
I'm looking forward to it more and more~
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