The Japanese Investment Company Metaplenet issued $ 21 million in zero interest bonds to Evo Fund, an investment firm based in the Cayman Islands, only one day after announcing a separate increase strategy of $ 50 million.
The 17th series of bonds, issued on May 29, comes with a nominal value of $ 525000 each and will mature on November 28, 2025. Unlike traditional debt instruments, the Thesis Fund does not produce interest, which allows Metaplanet to ask without additional reimbursement costs.
According to the terms, Evo Fund has the right to early redemption by notifying at least five business days. Bonds can be exchanged in full or partly, in multiples or $ 525,000.
Metaplenet can also trigger reimbursements linked to future funds collection of funds involving the same investor, depending on cumulative payments.
There is no guarantee or guarantee attached to the bonds, and no bond administrator has been designated, as allowed by the Japanese corporate law. The company has designated its Tokyo office as the location for paying management.
Related: Metaplanet issues $ 50 million in a new debt to buy more bitcoins
Metaplenet raised $ 135.2 million this year
Metaplenet has constantly taken the debt market to finance Bitcoin’s purchases (BTC), raising $ 25.9 million in February, $ 13.3 million in March and $ 25 million in early May.
The declared objective of the company is to maintain 10,000 BTC by the end of 2025. With the collection of consecutive funds this week, total capital raised this year has reached $ 135.2 million.
Metaplenet has around 7,800 BTC, according to Bitcintrease.net, placing it at number 11 among the largest corporate Bitcoin holders. With the holdings now valued at around $ 840 million, the company’s average purchase price is $ 91,340 per Bitcoin.
In March, the firm added 696 BTC through a combination of sales options and cousins in cash. It was followed by another purchase of 145 BTC for $ 13.6 million just before the end of April.
Related: Metaplanet’s Bitcoin ‘Premium’ is approaching $ 600k per BTC
Metaplanet announces the American subsidiary
On May 1, Metaplenet announced plans to launch an American subsidiary of absolute property, Metaplanet Treasury, based in Florida. The entity plans to raise up to $ 250 million to promote its Bitcoin strategy and take advantage of US capital markets.
The company has also attracted notable figures. Eric Trump, son of former president of the United States, Donald Trump, joined the company’s strategic advisory board in March.
In particular, Bitcoin’s corporate accumulation strategy is gaining impulse. On May 28, Gamestop, the video game retailer and the US consumption electronics, confirmed its first investment in Bitcoin, acquiring 4,710 bitcoin.
