#capital-structure

#capital-structure

One proposal would reduce capital stock and capital reserves, allowing funds to be transferred to surplus. This would enable dividends, share buybacks, or bitcoin acquisitions without increasing the number of outstanding common shares. Another proposal seeks to increase the company's authorized share count, including the introduction of new preferred share classes. Metaplanet said this would allow it to raise capital in the future to fund bitcoin purchases while preserving flexibility in its capital structure.

Fitch cited CCM's strong market share in the distributed retail channel, solid operating track record, experienced management team and conservative leverage as credit strengths. The company ranked as the eighth-largest lender in the first half of 2025, with $23.05 billion in originations, according to Inside Mortgage Finance. But Fitch also flagged challenges, including exposure to cyclical mortgage market conditions, reliance on secured short-term wholesale funding, regulatory risk tied to Ginnie Mae loans and key personnel risk related to majority shareholder Ron Leonhardt.