Japanese investment firm Metaplanet has announced the issuance of $13.6 million in Zero-Interest bonds aimed at funding additional Bitcoin investments.
The Tokyo-listed company plans to allocate 2 billion JPY in bonds to EVO FUND to enhance its digital asset portfolio.
In a regulatory filing dated February 27, Metaplanet explained that these Zero-Interest bonds are slated for redemption at face value on August 26. EVO FUND can opt for early redemption with one business day’s notice.
Funds for the bond redemption are anticipated to come from the exercise of the 13th to 17th Series of Stock Acquisition Rights. Once increments of 50 million JPY are reached through these exercises, partial early redemption of the bonds may be executed.
The entire bond issuance is intended for EVO FUND, with no requirements for guarantees or collateral.
