Shareholders of Super League Approve All Proposals Related to Investment from Metaplanet

Key Points of This Article

• Planned to implement a cash investment of 2,100 BTC
• Completion of the transaction between the two companies is scheduled for Q4 2026

Announcement of Shareholder Approval

Super League Entertainment, a game-related media and advertising company listed on NASDAQ, announced on the 19th that all proposals related to the investment from Metaplanet, a treasury company for the cryptocurrency Bitcoin (BTC), have been approved by its shareholders.

The details of the transaction and proposals between the two companies had been previously disclosed. Although the approval by shareholders was announced this time, the transaction is expected to be completed in Q4 2026 (October to December) after filing with NASDAQ.

The transaction between the two companies was announced on August 18, 2026. This transaction includes Metaplanet making a cash investment of 2,100 BTC through its wholly-owned subsidiary in the U.S., as well as contributing an additional $2.5 million in cash. The annual shareholder meeting regarding this proposal was held as scheduled on the 16th.

Details of the Transaction and Proposals

The details of the transaction and proposals have already been reported, but for example, Super League plans to change its name to "Super Planet" and its ticker symbol on NASDAQ to "SUPA." It is emphasized that this transaction does not represent a shift away from its core business.

In the initial investment, Metaplanet is expected to contribute Bitcoin and cash to receive 44,859,400 shares of common stock from Super League (at $3 per share). The value of Bitcoin is calculated based on the price on August 14, and it is explained that the number of shares will not change due to fluctuations in BTC prices.

Additionally, Metaplanet will receive 100 shares of perpetual preferred stock that can be converted into common stock, and all common shares received by Metaplanet will be subject to a five-year lock-up.

After the transaction is completed, Metaplanet is expected to hold approximately 95.7% of Super League's outstanding common stock and plans to make it a consolidated subsidiary.

In this announcement, Super League's CEO Matt Edelman commented:
I am very grateful for the support of our shareholders. This approval brings us one step closer to redefining what kind of company we can become in the future. Once this transaction is completed, we will no longer be defined solely by our current business scale.

We will continue to provide services to many globally recognized brands, and we will gain long-term support from a company that boasts one of the largest holdings of Bitcoin in the world, backed by financial assets sourced from 2,100 BTC.

Comments from Metaplanet

In response to this announcement, Simon Gerovich, CEO of Metaplanet, posted a comment on X.

He first conveyed that the transaction was approved at the shareholder meeting, explaining that this is an important step for Metaplanet to transform from a Bitcoin treasury company into a global Bitcoin-native financial platform.

He also stated that after the name change, Super Planet will enable direct access to the U.S. capital markets and allow for agile and flexible fundraising as Metaplanet's U.S.-listed Bitcoin treasury platform.

Furthermore, along with Metaplanet Securities in Japan, it will have complementary platforms in the two most important capital markets in the world, enabling international fundraising and capital allocation, as well as advancing initiatives in Bitcoin treasury, finance, financial products, and asset management.

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