Metaplanet Inc. (TSE: 3350) said its board resolved on 11 September 2026 to reduce the potential share pool under its 10th Series Stock Acquisition Rights by 41.1%, from 319,464,000 to 188,190,000 shares, after feedback from shareholders and capital market participants. The number of shares underlying each right will fall from 696 to 410, while the remaining potential shares after exercised rights are deducted will decline 55.5%, from 236,640,000 to 105,366,000. Unvested rights will become exercisable in three equal portions on 18 August 2029, 2030 and 2031. Metaplanet also withdrew a plan to transfer up to 90,000 rights to a long-term officer and employee incentive vehicle and will develop a new compensation plan with a global consultant. The lock-up through 17 August 2031 and the JPY 10 exercise price are unchanged; full exercise of the remaining rights would bring in roughly JPY 1.05 billion. The company said it changed the reference date for calculating the underlying shares from 30 June 2026 to 1 September 2025 to better align the rights with equity financings completed at the highest premiums to net asset value. Metaplanet has faced scrutiny as its floating option pool grew alongside its share count during its strategy of raising equity to accumulate Bitcoin. The lower fully diluted share count improves fully diluted Bitcoin per share, with the company reporting 43,000 BTC, approximately 0.0286646 BTC per effective diluted share versus 0.0263554 on 30 June, and a current-quarter BTC Yield of 8.8%. The amendment is expected by the company to have an immaterial impact on current-year results.