Metaplanet to Cancel 41% of Series 10 Warrants

Metaplanet CEO Simon Gerovich announced that the company's board has decided to adjust the Series 10 stock acquisition rights by canceling 41% of the related shares. The conversion ratio for the warrants has been reset from 1:696 to 1:410, a move expected to eliminate over $220 million in warrant value and increase Bitcoin holdings per fully diluted share by approximately 8.8%. Additionally, unvested warrants will face extended exercise restrictions, with vesting scheduled for 2029, 2030, and 2031.