Metaplanet has agreed to contribute 2,100 Bitcoin and $2.5 million in cash to Nasdaq-listed Super League Enterprise, in a transaction that marks the company's largest push into the U.S. market to date. Under the terms of the agreement, Super League will rebrand as Superplanet and operate as a Bitcoin treasury company backed by one of the world's largest corporate Bitcoin holders.

Metaplanet, which is listed in Tokyo, adopted Bitcoin as its core treasury reserve asset in 2024, following a corporate treasury playbook pioneered by MicroStrategy — since renamed Strategy Inc. — beginning in 2020, a model that a growing number of publicly traded companies have since replicated.

Once completed in the fourth quarter of 2026, the deal will pair a Nasdaq listing with a Bitcoin treasury backed by Metaplanet, creating U.S. and Japan Bitcoin treasury platforms that operate under one corporate group. Metaplanet is expected to hold about 95.7% of the renamed company after closing.

Metaplanet Expands Bitcoin Strategy Into U.S. Markets

According to a joint announcement issued on Tuesday, Metaplanet will contribute Bitcoin worth approximately $132.1 million in exchange for 44.86 million Super League shares priced at $3 each, alongside preferred stock and long-term warrants.

Super League, currently trading under the ticker $SLE, will be renamed Superplanet and trade under the new ticker $SUPA.

Once the transaction closes, Metaplanet is expected to own about 95.7% of Superplanet's outstanding common shares — a stake that would decline to approximately 93.6% if existing pre-funded warrants are exercised.

The companies structured the transaction as a private placement rather than a reverse merger or SPAC deal, and Super League will remain listed on Nasdaq while continuing to operate its gaming-focused advertising and media business — a continuing operation that distinguishes it from many pure-play Bitcoin treasury vehicles that hold no underlying business.

METAPLANET TO INVEST 2,100 BTC IN NEW US BITCOIN TREASURY COMPANY

Metaplanet will invest 2,100 BTC, worth approximately $132 million, plus $2.5 million in cash into Nasdaq-listed Super League $SLE, which will be renamed “Superplanet” and trade as $SUPA. Metaplanet is expected… pic.twitter.com/CbdwaIG2uf

— Bitcoin News (@BitcoinNewsCom) August 18, 2026

Transaction Gives Metaplanet Long-Term Control

Matthew Edelman, Super League's current chief executive, will lead the renamed company. Metaplanet will appoint the board chairman and hold a majority of board seats, and will initially designate five of Super League's nine directors — a composition that strengthens its influence over corporate strategy and treasury management.

The company will also receive ten-year warrants covering up to 381 million common shares across multiple exercise-price levels. In addition, Metaplanet secured the right to invest up to $210 million more through junior liquidity preferred stock during the two years following closing.

A five-year lock-up will apply to shares issued under the deal, as well as to securities acquired through warrant exercises or preferred stock conversions. The restriction underscores Metaplanet's long-term commitment to the venture.

Separate Listed Platforms, One Corporate Group

Superplanet is expected to serve as Metaplanet's U.S. Bitcoin treasury platform, while the parent company continues accessing capital through Japanese markets, where it has historically financed Bitcoin purchases with instruments such as ordinary bonds and moving strike warrants. Together, the two entities will operate as separate listed platforms within the same corporate group, giving the group listings on both the Tokyo and Nasdaq exchanges.

Superplanet Aims to Increase Bitcoin Exposure

The new company plans to use its Bitcoin holdings as a foundation for future capital-raising initiatives, including potential perpetual preferred stock offerings. Management believes the approach could provide access to additional funding without materially diluting common shareholders. Perpetual preferred stock has become an established funding tool among Bitcoin treasury companies: Strategy, the largest corporate holder of Bitcoin, has raised capital through successive preferred offerings as an alternative to issuing common shares. Any future issuances, however, will remain subject to market conditions and regulatory requirements.

Metaplanet currently holds 43,000 BTC, which makes the planned contribution equivalent to roughly 4.9% of its treasury. The Bitcoin transferred to Superplanet will remain within the consolidated group and will continue to be consolidated within Metaplanet's financial statements.

The transaction is expected to close in the fourth quarter of 2026, pending shareholder approval, regulatory reviews, and Nasdaq-related requirements.