Super League Enterprise has bought 16 Bitcoin for roughly $1.23 million, doubling the size of its previous purchase as it continues building a treasury ahead of a proposed investment from Metaplanet. Summary Super League purchased 16 BTC between Nov. 4 and Nov. 9 at an average of $76,892.32. Disclosed purchases since October total 31 BTC, with a calculated acquisition cost of approximately $2.43 million. Shareholders have approved proposals related to Metaplanet’s planned contribution of 2,100 BTC and $2.5 million. Super League’s Nov. 9 disclosure states that the Nasdaq-listed company acquired the coins between Nov. 4 and Nov. 9 at an average price of $76,892.32 each. The purchases formed part of its exploration of Bitcoin as a treasury asset alongside cash and cash equivalents. Multiplying the disclosed quantity by the average price puts the purchase cost at $1,230,277.12. The disclosure did not identify the funding source, name a custodian, or provide a consolidated Bitcoin balance. Bitcoin purchases grow as entry prices fall The latest acquisition followed four earlier purchases disclosed since October, with each successive batch twice the size of the previous one. An Oct. 13 filing recorded an inaugural purchase of one Bitcoin on Oct. 10 for $83,041.40. On Oct. 16, Super League bought two more coins at an average of $81,444.82, according to its subsequent disclosure. The company then acquired four Bitcoin between Oct. 22 and Oct. 25 at an average price of $80,581.26. Another eight coins followed between Oct. 28 and Nov. 1, averaging $78,532.14 each, its November filing shows. Across the five disclosures, purchases total 31 BTC. Using the reported average prices, the combined acquisition cost works out to approximately $2.43 million, or $78,283.56 per coin. The latest batch accounts for 51.6% of that cumulative purchase volume. Its average entry price was 7.4% below the first October purchase and 2.1% below the preceding eight-coin batch. The 31 BTC figure represents purchases recorded in those filings; the Nov. 9 disclosure does not explicitly confirm that amount as the company’s current total holdings. Metaplanet’s proposed contribution remains separate A much larger Bitcoin transaction sits behind Super League’s treasury plans. As crypto.news previously reported, Metaplanet agreed in August to contribute 2,100 BTC and $2.5 million in cash through its wholly owned US subsidiary. In exchange, Metaplanet would receive 44,859,400 common shares priced at $3 each, alongside preferred shares and warrants. The companies fixed the common-share count using Bitcoin’s August 14 reference price, so subsequent Bitcoin price changes would not alter that number. Super League’s Oct. 19 announcement said shareholders approved the transaction-related proposals at their Oct. 16 annual meeting. Closing was anticipated in the fourth quarter, subject to customary conditions, including required Nasdaq filings. Voting results disclosed in the meeting filing show 1,055,621 votes supporting the share-issuance proposal, compared with 25,314 against and 19,343 abstentions. The approval covered the issuance of up to 435,859,500 common shares pursuant to subscription agreements with Metaplanet Holdings and Evo Fund. The proposed 2,100 BTC contribution is an in-kind transfer: Metaplanet would deliver Bitcoin it already owns. The company’s announcement described the arrangement as establishing the treasury without having to execute open-market purchases. Once the transaction closes, Super League is expected to become Superplanet and trade under the Nasdaq ticker SUPA. Its advertising and media activation business would continue as a distinct operating segment, with Matt Edelman remaining chief executive. Super League describes its existing business as connecting brands with gaming audiences through advertising and branded content. Its services include interactive formats, creator content, immersive experiences, and campaign services. US treasury platform would give Metaplanet control The August agreement projected that Metaplanet would own approximately 95.7% of the company’s outstanding common stock after closing. Assuming exercise of existing pre-funded warrants, the projected stake would be 93.6%. The companies described the structure as a US Bitcoin treasury platform paired with Metaplanet’s Tokyo-listed business. Superplanet would seek capital in the United States while Metaplanet continued raising funds in Japan, with the subsidiary’s Bitcoin included in the parent’s consolidated financial statements. Metaplanet would receive 100 convertible perpetual preferred shares carrying governance rights, including the ability to designate a majority of directors. Ten-year warrants would cover up to 381 million common shares, with exercise prices ranging from $3 to $33.50. The October announcement outlined a further subscription right lasting 24 months after closing. Metaplanet could purchase up to 2.1 million non-convertible junior liquidity preferred shares at a stated value of $100 each, permitting an additional investment of up to $210 million. Common shares issued to Metaplanet at closing, together with shares received through warrant exercises or preferred-stock conversions, would carry a five-year lock-up, subject to specified exceptions.
