Metaplanet approved to control Nasdaq-listed company SLE, successfully achieving its U.S. listing layout.

BlockBeats news, October 19 - Metaplanet founder and CEO Simon Gerovich announced that Metaplanet's transaction with US Super League Enterprise, Inc. (Nasdaq: SLE) has been officially approved at the company's shareholders' meeting. This move marks a key step in Metaplanet's transformation from a Bitcoin treasury company to a global Bitcoin-native financial platform.

It is reported that Metaplanet will inject 2,100 bitcoins and $2.5 million in cash, with a total value of approximately $134.6 million, into Nasdaq-listed Super League Enterprise (SLE) in exchange for controlling stake. In return, Metaplanet will receive approximately 44.86 million newly issued shares of SLE common stock (at $3 per share), as well as preferred shares and warrants. After the transaction is completed, Metaplanet will hold approximately 95.7% of SLE's issued common stock, becoming its controlling shareholder.

According to Gerovich, after the transaction is completed, Superplanet will serve as Metaplanet's US-listed Bitcoin treasury platform, which will enable it to directly access US capital markets and gain more agile and flexible financing capabilities.

In terms of strategic layout, combined with Metaplanet Securities established by Metaplanet in Japan, this approval will give the company complementary platforms in the world's two most important capital markets (the United States and Japan). This will not only facilitate its international financing and capital allocation, but will also further advance its business expansion in areas such as Bitcoin treasury, financial services, financial products, and asset management.

Gerovich stated that this is a new milestone on Metaplanet's long-term growth path, and the company will continue to update the public on the latest progress regarding the completion of the transaction delivery in the future.