[Metaplanet Cancels Over $220 Million in Warrants, Eliminates 41% of Related Shares] Odaily Planet Daily News – Metaplanet CEO Simon Gerovich issued a letter to shareholders stating that the board has decided to adjust the Series 10 stock warrants. This adjustment cancels 41% of the related shares, resets the conversion ratio to 1:410—returning to the level prior to the international offering in September 2025—and cancels over $220 million worth of warrants. With the cancellation of the warrants, the company's fully diluted share count is correspondingly reduced, increasing the fully diluted Bitcoin holdings per share by approximately 8.8%. Under the new terms, unvested warrants will become exercisable in batches in 2029, 2030, and 2031. The originally allocated 20% employee incentive pool warrants will no longer be transferable and will also be canceled. The company stated that it will collaborate with global compensation consultants to design a new incentive plan to attract new employees.