Super League Enterprise said on 19 October 2026 that stockholders at its 16 October annual meeting approved all proposals tied to Metaplanet’s planned investment of 2,100 Bitcoin plus $2.5 million in cash. If the deal closes, the California gaming-and-media company will be renamed Superplanet, Inc. and trade on Nasdaq as SUPA, becoming Metaplanet’s US Bitcoin treasury platform alongside the Tokyo-listed parent.
For shareholders and anyone tracking corporate Bitcoin treasuries, the vote clears a governance hurdle — it does not complete the transaction. Closing is still anticipated in the fourth quarter of 2026, subject to customary conditions including Nasdaq filings.
In brief
- Stockholders approved Metaplanet-related proposals at Super League’s 16 October 2026 annual meeting (company release, 19 October).
- At closing: 2,100 BTC + $2.5m cash for 44,859,400 common shares at $3.00; rename to Superplanet (SUPA); Matt Edelman stays CEO.
- Not closed yet; company BTC valuations (~$132.1m at 14 Aug reference; ~$170.0m as of 16 Oct) are Super League’s own figures.
What Metaplanet would put in — and get back
Under the definitive agreement announced on 18 August 2026, Metaplanet, through its wholly owned US subsidiary Metaplanet Holdings, will contribute 2,100 Bitcoin and $2.5 million cash at closing. In return it receives 44,859,400 shares of common stock priced at $3.00 per share. That share count was fixed using Bitcoin’s reference price on 14 August 2026 and will not change with the Bitcoin price before closing, the company says.
Metaplanet also receives 100 shares of convertible perpetual preferred stock with certain governance and voting rights, plus ten-year warrants to buy up to 381,000,000 common shares in four tranches with exercise prices stepping from $3.00 to $33.50. For 24 months after closing it may invest up to a further $210.0 million via junior liquidity preferred stock. All common shares issued at closing, and shares from warrant exercise or preferred conversion, sit under a five-year lock-up, subject to exceptions.
| Piece | Terms (per Super League) |
|---|---|
| BTC + cash in | 2,100 BTC + $2.5m |
| Common shares out | 44,859,400 at $3.00 |
| Preferred | 100 convertible perpetual (governance/voting) |
| Warrants | Up to 381m shares, $3.00–$33.50, 10-year |
| Extra capital right | Up to $210.0m for 24 months |
| Lock-up | Five years (with exceptions) |
Superplanet, not yet a closed treasury
At closing, Super League becomes Superplanet, Inc. on Nasdaq as SUPA. The advertising and media activation business continues as a distinct operating segment; Matt Edelman remains chief executive. The Bitcoin is to arrive in kind, so the treasury would be seeded without open-market purchases, the company says — creating a platform spanning Nasdaq and the Tokyo Stock Exchange around one group-level Bitcoin position.
Super League values the 2,100 BTC at about $132.1 million using the Coinbase Exchange close at 4:00 p.m. New York time on the 14 August 2026 reference date, and about $170.0 million as of 16 October 2026. Those are company calculations; Bitcoin’s price remains volatile, as the release itself notes.
CEO Matt Edelman thanked stockholders and said that if the transaction closes, the company would no longer be defined solely by its current scale, with a treasury seeded with 2,100 Bitcoin and backing from one of the largest corporate Bitcoin holders.
What still has to happen
Approval is not closing. The release says the deal is anticipated to close in Q4 2026, subject to customary conditions including required Nasdaq filings. Until those conditions are met, Super League remains SLE, Metaplanet has not delivered the Bitcoin, and Superplanet is a planned name rather than a live ticker.
Our read
This is another listed-company Bitcoin treasury structure — Japan’s Metaplanet using a US vehicle with warrants, preferred governance rights and a long lock-up — but the stock-vote stage is the easy part. The operational and market test is whether Q4 closing sticks and how Superplanet’s dual-market story is received once the coins are actually on the balance sheet. No price commentary here; watch the closing 8-K, not the approval headline.
How we sourced this
- Primary: Super League Enterprise press release (19 October 2026). All share counts, warrant terms, BTC amounts and company BTC valuations are from that release.
- Trade-press figures that do not appear in the release are omitted.
Sources
- Super League Enterprise: “Super League Stockholders Approve All Proposals Related to Metaplanet’s Proposed 2,100 Bitcoin and Cash Investment” (19 October 2026).
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