Super League Enterprise stockholders voted on October 18 to approve Metaplanet’s acquisition of approximately 96% of the Nasdaq-listed company through a 2,100 Bitcoin and $2.5 million investment, clearing the way for a corporate restructuring that will establish a second U.S.-listed Bitcoin treasury platform for the Japanese firm.
The transaction, first announced in August, will result in Super League being renamed Superplanet and operating as Metaplanet Holdings’ U.S. treasury vehicle. Metaplanet will receive 44,859,400 shares of common stock at $3.00 per share. Stockholders also authorized an increase in preferred shares from 10 million to 100 million, a measure tied to the transaction structure.
Simon Gerovich, Metaplanet CEO, said in a statement: “Super League stockholders have voted to approve the proposed Metaplanet transaction, an important step in our transformation from a Bitcoin treasury company into a global Bitcoin-native financial platform. Upon close, Superplanet will be our U.S.-listed Bitcoin treasury platform, providing direct access to U.S. capital markets and greater flexibility to opportunistically raise capital.”
Matt Edelman, Super League CEO, will remain in his role following the closing. “Their approval brings us one step closer to redefining what this company can become,” Edelman said.
Dual-Listed Treasury Structure
The acquisition establishes Metaplanet with two publicly listed Bitcoin treasury platforms: one on the Tokyo Stock Exchange and one on Nasdaq. Each platform will serve distinct investor bases and report in its own currency. As of August 18, 2026, Metaplanet held 43,000 Bitcoin and described itself as the third-largest corporate Bitcoin treasury among publicly traded companies.
Super League’s existing advertising and media activation business, which connects brands with a global gaming population of 3.3 billion, will continue as a separate operating segment within the restructured entity.
Closing Timeline and Conditions
The transaction is anticipated to close in the fourth quarter of 2026, subject to customary closing conditions including required filings with the Nasdaq Capital Market. The arrangement includes provisions governing Metaplanet’s ability to dispose of its equity holdings following the transaction, though specific details of those restrictions were not disclosed.
Stockholder approval on October 18 removes a key regulatory hurdle. The combination of the two platforms is designed to give Metaplanet’s investor base flexibility in choosing which listed vehicle aligns with their investment objectives and reporting preferences.
