Beat Holdings (TYO:9399) has rejected a shareholder proposal from the H.a.N Group, which called for a third-party allotment of new shares and stock acquisition rights at a 30% discount to market price.
The investment company cited concerns over potential excessive dilution of up to 296.65% and the risk of a change in control, according to a Tokyo bourse filing on Wednesday.
While Beat is exploring financing options to continue its Bitcoin ETF investments, it considers the terms of the proposal unfavorable.
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