Metaplanet Cuts Series 10 Share Pool by 41% Over Dilution
Metaplanet CEO Simon Gerovich said the firm will cut the number of shares that could be issued under its Series 10 stock acquisition rights by 41.1% after shareholder criticism over dilution. Shares tied to each right will drop from 696 to 410, reducing potential shares from 319.464 million to 188.19 million. Metaplanet will also drop a plan to transfer up to 90,000 rights to an incentive vehicle.