Metaplanet unveils $380 million share buyback after stock crashes nearly 90% from peak

Metaplanet plans to raise $329 million to refinance Bitcoin-backed loans and fund share buybacks after its stock has declined 90% from its peak. On Oct. 13, the Japanese Bitcoin treasury company announced plans to issue ¥52 billion ($329 million) in unsecured, zero-coupon Euro-yen convertible bonds due in 2031. Expected to close on Oct. 29, the bond issuance aims to bolster its Bitcoin holdings and stabilize its stock price amidst a market downturn.