Super League Purchases 16 More Bitcoin, Cumulative Holdings Reach 31

According to CoinPost, Super League Enterprise, which is set to be acquired by Metaplanet, disclosed on November 9 that it had purchased 16 additional Bitcoin. According to the Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), the purchase period was November 4 to 9, with an average purchase price of approximately $76,892.32 per Bitcoin, about $6,149 lower than the initial purchase price of $83,041.40.

Since its initial purchase of 1 Bitcoin on October 10, the company has doubled the purchase size in each subsequent transaction, accumulating 31 Bitcoin across five purchases for a total cost of approximately $2.43 million. In August, Metaplanet signed an agreement to acquire approximately 95.7% of Super League's common stock through its U.S. wholly owned subsidiary by contributing 2,100 Bitcoin and $2.5 million in cash; upon completion, the company will be renamed Superplanet, and its ticker symbol will change to SUPA;

The relevant proposals were approved at the October 16 shareholders' meeting, and the transaction is targeted to close in the fourth quarter. The 2,100 Bitcoin come from Metaplanet's existing holdings rather than new market purchases. In the Form 8-K filed on November 9, the company name and ticker symbol remained unchanged.

Source: TechFlow