Metaplanet Adjusts Series 10 Stock Acquisition Rights and Cancels More Than $220 Million in Warrants

Metaplanet CEO Simon Gerovich said the board has decided to adjust its Series 10 stock acquisition rights, canceling 41% of the related shares and resetting the conversion ratio to 1:410, the level before the September 2025 international offering. According to Odaily, the company said the move will cancel more than $220 million in warrant value and reduce fully diluted shares, while increasing fully diluted bitcoin holdings per share by about 8.8%. Under the new terms, unvested warrants will become exercisable in stages in 2029, 2030 and 2031. The company also said the planned 20% employee incentive pool warrants will no longer be transferred and will be canceled. Metaplanet said it will work with a global compensation adviser to design a new incentive plan to attract new employees.