Metaplanet to launch US Bitcoin treasury via Super League acquisition

Metaplanet, a major Japanese corporate Bitcoin holder, has entered a definitive agreement to acquire a controlling stake in the Nasdaq-listed Super League Enterprise. The deal, valued at approximately $134.6 million, involves Metaplanet contributing 2,100 BTC (roughly $132.1 million) and $2.5 million in cash.

Upon completion, Super League Enterprise will be renamed Superplanet, Inc. and trade under the ticker SUPA. Metaplanet is expected to hold approximately 95.7% of the company's common stock. The transaction is structured as a private placement rather than a reverse merger, and Metaplanet's shares will be subject to a five-year lock-up period.

The move establishes a dual-market Bitcoin treasury structure, with Metaplanet operating in Japan and Superplanet serving as a dedicated US-based platform. Superplanet intends to leverage the US capital markets, potentially through the issuance of Bitcoin-backed perpetual preferred stock, to further increase its Bitcoin holdings. The existing gaming and media advertising business of Super League will continue to operate as a separate segment within the new entity. The transaction is expected to close in the fourth quarter of 2026, pending shareholder and regulatory approvals.