Metaplanet trims stock pool and plans Hong Kong subsidiary

Metaplanet said it will reduce the number of potential shares tied to its Series 10 stock acquisition rights by 131.3 million after shareholder concerns about dilution. The Japanese bitcoin treasury company also said it will create a Hong Kong subsidiary with $1 million in starting capital. According to CEO Simon Gerovich, the change lowers the pool from 319.464 million shares to 188.19 million by resetting the conversion ratio. Shares already issued will not be affected, while future exercises will face tighter limits. The company said the revision will remove more than $220 million in warrant value. Metaplanet also plans to launch Metaplanet Asset Management Asia Limited in Hong Kong later in September. The unit will trade bitcoin, equities and credit products during Asian market hours as part of the company’s broader Project Nova strategy. Metaplanet shares fell 3.8% on Friday and were down 15% over five days, according to Yahoo Finance.