Super League Holders Clear Metaplanet's 2,100 BTC Investment

Super League Enterprise, Inc. (Nasdaq: SLE) stockholders approved every proposal tied to Metaplanet's 2,100 BTC investment at the company's 2026 annual meeting, clearing the path for the Nasdaq-listed firm to rename itself Superplanet, Inc. and operate as the Japanese company's U.S. Bitcoin treasury vehicle. The vote, held Friday and disclosed Monday morning, removes the largest structural obstacle to a transaction first announced in August.

Under the definitive agreement, Tokyo-listed Metaplanet, Inc. will contribute 2,100 Bitcoin and $2.5 million in cash through its wholly owned U.S. subsidiary, Metaplanet Holdings, Inc. In exchange, Metaplanet receives 44,859,400 shares of common stock priced at $3.00 per share, plus preferred stock and warrants.

The approved measures include the equity and warrant issuance to Metaplanet, the corporate name change, and an increase in authorized preferred shares from 10 million to 100 million. The preferred share expansion matters structurally: it gives the post-close entity capacity for capital instruments beyond straight common equity.

At closing, Super League will trade on Nasdaq under the ticker "SUPA." Its advertising and media activation business will continue as a distinct operating segment, and Matt Edelman remains chief executive officer.

What does the vote change for Metaplanet?

Metaplanet CEO Simon Gerovich wrote on X: "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."

Gerovich added: "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."

For a Tokyo-listed issuer, that second point carries the operational weight. A Nasdaq-listed subsidiary reporting in U.S. dollars gives Metaplanet a funding channel that does not route through Japanese markets, with a separate investor base for each listing. The group will hold two listed treasury platforms — one on the Tokyo Stock Exchange, one on Nasdaq — each with its own reporting currency.

Metaplanet held 43,000 BTC as of August 18, which it described as the third-largest corporate Bitcoin treasury among publicly traded companies. The 2,100 BTC bound for Superplanet represents roughly 4.9% of that holding — a deliberate carve-out rather than a full relocation of the treasury.

For Super League shareholders, the deal converts an advertising business connecting brands with what the company describes as a 3.3 billion-person global gaming population into a dual-segment company: a legacy media operation plus a Bitcoin treasury platform.

Remaining conditions

The shareholder approvals are a required step, not the final one. Closing is anticipated in the fourth quarter of 2026, subject to customary conditions, including required filings with the Nasdaq Capital Market.

Super League said the arrangement will govern Metaplanet's ability to dispose of its equity holdings after the transaction. The company did not disclose exceptions to those lockup-style restrictions.

Edelman framed the outcome in the company's announcement: "Their approval brings us one step closer to redefining what this company can become."

Watch for the closing filing with Nasdaq and the ticker migration from SLE to SUPA as the operational marker that the two-platform structure is live.