Super League Shareholders Approve Deal with Metaplanet for 2100 BTC

Shareholders of Super League Enterprise approved a deal in which Japan's Metaplanet will gain control of the company and create a bitcoin treasury in the US. The vote took place on October 16 at the annual meeting: shareholders supported all proposals related to the previously concluded agreement, including the issuance of new shares.

Under the terms of the deal, Metaplanet will transfer 2100 BTC and $2.5 million in cash to Super League. In return, the Japanese company will receive 44.86 million common shares at $3 each, preferred shares, and long-term warrants. As of the exchange rate on August 14, which the parties used as a benchmark when signing the agreement, the transferred cryptocurrency was valued at approximately $132.1 million; by October 16, amid the rise in bitcoin, its value increased to $170 million.

Upon closing the deal, Metaplanet will own approximately 95.7% of Super League's common shares; taking into account the exercise of previously issued prepaid warrants, the stake will be about 93.6%. The Japanese company will also have the right to appoint five of the nine board members and its chairman, while additional voting rights will be granted through preferred shares. Metaplanet has committed not to sell the acquired shares, including those obtained through warrant exercise and preferred share conversion, for five years. The deal is expected to close in the fourth quarter of 2026 after fulfilling the remaining conditions, including necessary procedures from Nasdaq and regulators in the US and Japan.

After the deal closes, Super League will be renamed Superplanet. The company will continue to trade on Nasdaq but will change its ticker from SLE to SUPA, with its main strategy becoming bitcoin accumulation. The transferred 2100 BTC will form the initial cryptocurrency reserve; Super League's existing business in gaming advertising and digital media will remain as a separate operating division. The current CEO, Matthew Edelman, will remain CEO of Superplanet. Superplanet's bitcoins will serve as collateral for potential issuances of perpetual preferred shares, but the parties have not yet made a decision on issuance. Within two years after the deal closes, Metaplanet will be able to additionally invest up to $210 million in Superplanet's preferred shares.