ChainCatcher news, according to Cointelegraph, shareholders of the Japanese listed company Metaplanet have approved an increase in authorized shares and the establishment of preferred share terms, with a maximum issuance amount of $3.8 billions. The funds raised will mainly be used to acquire bitcoin.
Previous reports indicated that Metaplanet shareholders approved three resolutions at an extraordinary general meeting: increasing the total number of authorized shares, allowing the convening of virtual shareholder meetings, and establishing new permanent preferred share terms. The president of Metaplanet stated that the company plans to accumulate a total of 210,000 bitcoin by 2027.