Metaplanet cuts Series 10 stock pool by 41%, plans Hong Kong subsidiary

Metaplanet will cut 131.3 million potential shares and form a $1 million Hong Kong subsidiary for trading in Bitcoin, equities and credit products.

Metaplanet CEO Simon Gerovich said the Japanese Bitcoin treasury company will further amend its Series 10 stock acquisition rights amid shareholder backlash over dilution concerns.

Metaplanet will reduce the number of potential shares underlying the rights by 131.3 million, from 319.464 million to 188.19 million, by resetting the conversion ratio from 1:696 to 1:410, the level before its September 2025 international share offering, Gerovich announced in a Friday X post.

Shares already delivered through prior exercises will not be returned or canceled. The reduction applies to the number available through future exercises.

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