- Super League Enterprise disclosed in an October 6, 2026 SEC filing an updated valuation of the 2,100 bitcoin Metaplanet will contribute to their planned merger
- The bitcoin, valued at approximately $132 million when the deal was announced August 18, had risen to approximately $179 million as of October 2, 2026
- Shareholders are scheduled to vote on the transaction October 16, with the combined company to be renamed “Superplanet, Inc.”
Super League Enterprise, Inc. filed a definitive additional proxy materials letter with the SEC dated October 6, 2026, from CEO Matt Edelman updating shareholders ahead of the October 16 vote on its planned merger with Tokyo Stock Exchange-listed Metaplanet Inc.
The letter disclosed that the value of the 2,100 bitcoin Metaplanet has agreed to contribute to the combined company, based on the closing market price of bitcoin on the Coinbase exchange at 4:00 p.m. New York time, had increased to approximately $179 million as of October 2, 2026. That compares with an approximately $132 million valuation for the same 2,100 BTC when the transaction was first announced on August 14, 2026, illustrating how much bitcoin’s price has moved in the weeks since the deal was struck.
Under the terms of the transaction, Metaplanet, the third-largest corporate holder of bitcoin globally, will take control of Super League, with the combined Nasdaq-listed entity renamed “Superplanet, Inc.” The deal centers on establishing a bitcoin treasury as what Edelman has called a “second, powerful new engine” for the company, running alongside its existing gaming media business. Metaplanet’s shares received in the deal will be subject to a five-year lock-up period.
Edelman has framed bitcoin’s fixed supply as a response to concerns about currency expansion, positioning the merger as a way for Super League shareholders to gain direct exposure to a major bitcoin treasury without needing to separately acquire or custody the asset themselves. The stockholder letter’s updated valuation appears designed to remind investors how materially the value of Metaplanet’s contribution can shift between the deal’s announcement and its closing, with the roughly $47 million increase illustrating the scale of the swing shareholders are being asked to weigh ahead of the vote scheduled for October 16.
Shareholders are set to vote on the transaction at an annual meeting scheduled for October 16, 2026, with the September 25 filing of definitive proxy materials having already set the stage for the vote. If approved, the merger would add Super League to a growing list of Nasdaq-listed companies that have pivoted toward bitcoin treasury strategies by combining with crypto-native partners rather than building their holdings independently.
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