The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Metaplanet CEO Simon Gerovich said the Japanese Bitcoin (CRYPTO: $BTC) treasury company will cut the number of shares that could be issued under its Series 10 stock acquisition rights by 131.3 million, following criticism from shareholders over potential dilution.
The company said Friday that it will reduce the number of shares tied to each right from 696 to 410. That will bring the total number of potential shares down from 319.464 million to 188.19 million, a 41.1% reduction. The number of shares still available for future exercises will fall 55.5%, from 236.64 million to 105.366 million.
The exercise price will remain JPY 10 per share, while shares acquired through the rights will continue to face a lock-up until August 17, 2031. Shares that have already been issued will not be returned or canceled. Instead, the reduction will lower the number of shares holders can acquire through future exercises.
MEXC Launches Earn Plus With Limited-Time Event Offering Up to 800% APR Booster