Super League Under MetaPlanet to Double Bitcoin Purchases, Totaling 15 BTC

Key Points of This Article

• Purchase amounts doubled each time: 1, 2, 4, 8 BTC
• Company name will change to Super Planet after contribution completion

4th BTC Acquisition Brings Total to 15 BTC

Super League Enterprise, listed on the NASDAQ, disclosed additional Bitcoin (BTC) acquisitions in a filing (8-K) submitted to the U.S. Securities and Exchange Commission (SEC) on the 2nd. The purchase included 8 BTC acquired between October 28 and November 1, with an average acquisition price of approximately $78,532 per BTC.

The company's BTC acquisitions began with 1 BTC on October 10, followed by 2 BTC on the 16th, and 4 BTC from the 22nd to the 25th. This marks the fourth acquisition. Each purchase amount has doubled from the previous one, bringing the total holdings to 15 BTC. The total acquisition cost calculated from the disclosed amounts is approximately $1.2 million.

The 8-K filing explains that these purchases are part of an initiative to consider BTC as a treasury asset alongside cash and cash equivalents. The average acquisition price has decreased from $83,041 in the first round to $78,532 in this round.

Planned Contribution of 2,100 BTC from MetaPlanet

Super League is engaged in advertising and media business related to gaming. In August, it announced that MetaPlanet would contribute 2,100 BTC and $2.5 million in cash through its U.S. subsidiary, acquiring over 90% of the company's shares. After the transaction is completed, the company name will change to Superplanet, and the ticker will be changed to SUPA, establishing a BTC treasury hub for MetaPlanet in the U.S.

Related proposals were approved at the shareholders' meeting in October, and the transaction aims for completion in the fourth quarter. The current 8-K does not reflect any changes to the company name or ticker, indicating that the contribution has not yet been completed. The 2,100 BTC will transfer from MetaPlanet's existing holdings and does not constitute new purchases from the market.

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