Metaplanet Stock Falls Nearly 90% as Bitcoin Firm Unveils $380 Million Buyback

TLDR Metaplanet announced a ¥60 billion ($380 million) share buyback program covering up to 200 million shares. The company plans to raise ¥52 billion ($329 million) through zero-coupon convertible bonds due in 2031. About $149 million will repay Bitcoin-backed loans after borrowing reached 17.7% of Bitcoin reserves, above its 10% limit. Metaplanet shares have fallen [...]

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