Beat Holdings' major shareholder proposes to raise up to 799 billion yen through financing to purchase over 50000 bitcoins Japanese listed company Beat Holdings announced today that it has received a formal proposal from Atari Group, a shareholder holding 33.3% of the shares. The main content of the proposal includes: suggesting that the company raise funds by issuing 5400 floating exercise price stock warrants (MSW) with an exercise price of 92.5% of the market price and a term of 2 years. The actual amount of funds raised depends on the market price of Beat at the time of MSW exercise. If calculated based on the current stock price of 726 yen, it is expected to raise 36.2 billion yen, of which 35.4 billion yen will be used to increase holdings of Bitcoin. If calculated based on the highest stock price of 16000 yen, the financing amount can reach 799.2 billion yen, and 53227 bitcoins can be purchased. The company responded that the discount rate of 7.5% is too high and will evaluate other financing options. Media cooperation matters will be further discussed with Atari. The announcement shows that the company has started investing in Bitcoin ETFs, but stated that continued increase in holdings requires more funding support.