Metaplanet, one of the largest corporate Bitcoin holders globally, has cleared a crucial regulatory and governance hurdle in its planned takeover of Super League Enterprise. At Super League's 2026 annual meeting held on October 16, 2026, stockholders approved every proposal tied to Metaplanet's investment, paving the way for the creation of Superplanet, Inc., a U.S.-listed Bitcoin treasury platform.
The decisive vote, Proposal No. 2, authorized the issuance of up to 435,859,500 common shares under Nasdaq Listing Rule 5635. The proposal passed with 1,055,621 votes in favor, 25,314 against, and 19,343 abstentions, according to the Form 8-K filed with the SEC on October 19. Approval ran to roughly 96 percent of shares actually voted, excluding 316,141 broker non-votes.
Under the definitive agreement first announced on August 18, Metaplanet will contribute 2,100 BTC plus $2.5 million in cash through its wholly owned U.S. subsidiary, Metaplanet Holdings. In exchange, Metaplanet receives 44,859,400 shares of common stock at $3.00 per share, 100 shares of convertible perpetual preferred stock, and ten-year warrants to purchase up to 381 million shares across four tranches with exercise prices stepping from $3.00 to $33.50. Related warrants could offer up to $3.4 billion in additional equity capital.
The transaction grants Metaplanet approximately 93.7% ownership of Super League, with closing shares subject to a five-year lock-up. The share count was fixed against Bitcoin's closing price on Coinbase at 4:00 p.m. New York time on August 14, 2026 — an implied price of about $62,905 per coin. By October 16, the same 2,100 BTC was worth approximately $170 million, implying roughly $80,952 per coin.
The vote also formalized governance changes required by Metaplanet, including a waiver of Section 203 of the Delaware General Corporation Law, a corporate-opportunities waiver, a forum-selection clause designating Delaware courts, and the declassification of the board into a single annual class. Stockholders also re-elected directors Ann Hand and Robert Kalutkiewicz and approved the name change to "Superplanet, Inc." with 1,381,852 votes in favor.
Matt Edelman, Super League's chairman, CEO, and president, said: "I'm deeply grateful to our stockholders for their support. Their approval brings us one step closer to redefining what this company can become." He added that if the transaction closes, the company would have "a treasury seeded with 2,100 Bitcoin and the long-term backing of one of the largest corporate Bitcoin holders globally."
The transaction remains subject to required Nasdaq filings and other customary closing conditions, with a targeted fourth-quarter 2026 close. Until then, Super League continues to trade under the SLE ticker. Upon closing, it will trade on Nasdaq under the symbol SUPA, giving Metaplanet a U.S.-listed Bitcoin treasury vehicle alongside its Tokyo listing. Metaplanet has spent two years building one of the largest corporate Bitcoin treasuries in the world, lifting its holdings to roughly 44,000 BTC as of its third-quarter update. The 2,100 BTC earmarked for Super League represents less than 5 percent of that position.
