Japanese investment firm Metaplanet announced Thursday that it plans to raise $62m through its 12th series of stock acquisition rights (SARs). The company announced plans to issue new SARs to EVO FUND, based in the Cayman Islands, through a third-party allotment. EVO FUND will be able to buy company stock on Dec. 16, 2024. Specifically, the company is issuing 29,000 units of SARs, with each unit entitling EVO FUND to purchase 100 common shares. Each right will cost 614 yen, resulting in a total issuance price of 17,806,000 yen. Consequently, should EVO FUND exercise all these rights, the company could raise 9.5 billion yen ($62m).
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