Super League stockholders approved all proposals related to Metaplanet's planned investment of 2,100 BTC and $2.5 million in cash at the company's October 16 annual meeting. Following the transaction's closing, Metaplanet is expected to own approximately 93.7% of the renamed Superplanet, Inc.

The deal is intended to create a Nasdaq-listed Bitcoin treasury platform while preserving Super League's existing advertising and media business. The source describes the transaction as adding approximately N70m in Bitcoin to the new Nasdaq-listed treasury-assets platform. The Bitcoin was valued at approximately $132.1 million using the August 14 price referenced in the announcement and at about $170 million at the time of writing.

Metaplanet's 2,100 BTC transaction approved

Super League said shareholders approved every proposal presented at the annual meeting, including the strategic investment from Metaplanet. The approved measures cover the issuance of common stock and warrants to Metaplanet, the company's name change to Superplanet, Inc., and an increase in authorized preferred shares from 10 million to 100 million.

At closing, Metaplanet will contribute 2,100 BTC and $2.5 million in cash from its U.S. subsidiary to Sapperstone. In exchange, it will receive 44.86 million common shares priced at $3 each, 100 shares of convertible perpetual preferred stock and long-dated warrants. The transaction documents also describe the preferred securities as Strategic Alliance Preferred Stock.

Based on Super League's approximately 3.0 million shares outstanding as of September 29, Metaplanet would hold about 93.7% of Superplanet's common stock after the transaction closes. All common shares held by Metaplanet at closing, as well as common shares that may be issued through the exercise of warrants and preferred stock, will be subject to a five-year lock-up, meaning none of the covered shares can be sold during that window.

The transaction remains subject to customary closing conditions and required Nasdaq filings. It is expected to close during the fourth quarter of 2026, leaving those filings and conditions as the remaining steps between the shareholder vote and the first session under the new ticker.

The company's official announcement is available through Super League's investor-relations release.

Super League to adopt the Superplanet name

Immediately after closing, Super League will become Superplanet, Inc. and is expected to trade on Nasdaq under the ticker symbol SUPA, replacing SLE. The company's existing advertising and media operations will remain in place while it develops a Bitcoin treasury strategy centered on the 2,100 BTC contribution.

The transaction would give Metaplanet a listed platform on both U.S. exchanges and the Tokyo Stock Exchange, providing access to dollar- and yen-based capital markets. In practice, the Nasdaq vehicle would serve as the U.S.-listed expression of Metaplanet's bitcoin treasury strategy, complementing its existing Tokyo presence.

The Strategic Alliance Preferred Stock carries no preferred dividend or liquidation preference. Its stated purpose is governance. While Metaplanet holds the shares, its consent will be required for matters including amendments to the charter, mergers, changes of control and the designation of a board majority.

As outlined in the proxy materials, Superplanet intends to increase Bitcoin per share primarily through the issuance of senior, nonconvertible perpetual preferred stock rather than relying heavily on traditional debt.

Warrants and preferred-stock financing

Metaplanet will receive warrants with a 10-year term covering up to 381 million common shares. The warrants will have exercise prices ranging from $3 to $33.50. Dylan LeClair, Metaplanet's director of Bitcoin strategy, told CFM Media that the warrants could represent as much as $3.4 billion in potential equity capital.

Metaplanet will also have a 24-month right to subscribe for up to $210 million of unlisted Junior Liquidity Support Preferred Stock. If issued, the securities would pay SOFR plus 4.00% and rank junior to any senior preferred stock that Superplanet may issue. The arrangement would allow Metaplanet to provide subordinated capital in support of the balance sheet. The source also states that Metaplanet will withhold 100% of its funds for 24 months in the form of junior preferred stock.

Taken together, the instruments map onto the platform's stated financing plan: the junior preferred would support the balance sheet beneath the senior preferred Superplanet intends to issue to grow bitcoin per share, while the warrants outline a long-dated source of potential common equity.

LeClair summarized the approved measures in a post on X:

Super League stockholders have approved every proposal at last week's annual meeting, including:

✅ Issuance of common stock and warrants to Metaplanet
✅ Name change to Superplanet, Inc. ($SLE -> $SUPA)
✅ Increase in authorized preferred shares from 10m to 100m

At closing, Metaplanet will contribute 2,100 BTC + $2.5m USD in exchange for 44.86m common shares, 100 shares of Strategic Alliance Preferred Stock, and common stock warrants representing up to ~$3.4b of potential equity capital.

Based on the ~3.0m Super League shares outstanding as of September 29, Metaplanet would own ~93.7% of Superplanet's common stock at closing. All shares to be held by Metaplanet are subject to a five-year lock-up.

The Strategic Alliance Preferred carries no preferred dividend or liquidation preference; its purpose is governance. While Metaplanet holds it, Metaplanet's consent is required for charter amendments, mergers or changes of control, and designation of a board majority.

As outlined in the proxy, Superplanet intends to grow BTC per share primarily by issuing senior, non-convertible perpetual preferred stock rather than debt.

Metaplanet will also hold a 24-month right to subscribe for up to $210m of unlisted Junior Liquidity Support Preferred Stock. If issued, it would pay SOFR + 4.00% and rank junior to any senior preferred Superplanet may issue, allowing Metaplanet to provide subordinated capital in support of the balance sheet.

A new chapter begins soon. 🇺🇸🪐

— Dylan LeClair (@DylanLeClair) October 19, 2026

The post is available at X.