Super League Stockholders Approve Metaplanet's 2,100 BTC Investment, Paving Way for 'Superplanet'

Bitcoin Magazine
Super League Stockholders Approve Metaplanet’s 2,100 BTC Investment, Paving Way for ‘Superplanet’

Super League stockholders have approved all proposals tied to Metaplanet‘s 2,100 BTC investment, clearing the way for the Nasdaq-listed company to be renamed Superplanet and become the Japanese firm’s U.S. Bitcoin treasury vehicle.

The proposals passed at Super League Enterprise, Inc.’s 2026 annual meeting of stockholders, held Friday and were disclosed Monday morning. The transaction itself was first announced in August.

Under the definitive agreement, Metaplanet, Inc. will contribute 2,100 Bitcoin and $2.5 million in cash through its wholly owned U.S. subsidiary, Metaplanet Holdings, Inc. 

In exchange, Metaplanet receives 44,859,400 shares of common stock at $3.00 per share, along with preferred stock and warrants.

At closing, Super League will be renamed “Superplanet, Inc.” and trade on Nasdaq under the ticker symbol “SUPA.” Its advertising and media activation business will continue as a distinct operating segment, and Matt Edelman will remain chief executive officer.

Among the measures stockholders approved were the issuance of common stock and warrants to Metaplanet and the corporate name change. The proposals also included an increase in authorized preferred shares from 10 million to 100 million, according to a summary of the meeting posted on X.

“Super League stockholders have voted to approve the proposed Metaplanet transaction, an important step in our transformation from a Bitcoin treasury company into a global Bitcoin-native financial platform,” Metaplanet CEO Simon Gerovich wrote on X. 

“Upon close, Superplanet will be our U.S.-listed Bitcoin treasury platform, providing direct access to U.S. capital markets and greater flexibility to opportunistically raise capital.”

Edelman framed the vote similarly in the company’s announcement: “Their approval brings us one step closer to redefining what this company can become.”

Closing is anticipated in the fourth quarter of 2026, subject to customary closing conditions, including required filings with the Nasdaq Capital Market. The shareholder approvals represent a required step but not the final one.

Super League said the arrangement is intended to establish conditions governing Metaplanet’s ability to dispose of its equity holdings following the transaction. The company did not provide details of exceptions to those restrictions in its announcement.

Metaplanet held 43,000 BTC as of August 18, describing itself as the third-largest corporate Bitcoin treasury among publicly traded companies. The combined structure is intended to give the group two listed Bitcoin treasury platforms — one on the Tokyo Stock Exchange, one on Nasdaq — each with its own investor base and reporting currency.

Super League connects brands with what it describes as a 3.3 billion-person global gaming population through advertising and branded content programs across gaming and digital media platforms. Metaplanet is a Tokyo-listed company building Bitcoin-based financial products and infrastructure.

Shares of Super League moved higher on the news. 

This post Super League Stockholders Approve Metaplanet’s 2,100 BTC Investment, Paving Way for ‘Superplanet’ first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.