- Genius Group has approved a $33M rights offering
- The funds raised will be spent to fund its Bitcoin Treasury
- They are also potentially going to secure loans of up to $20M
AI company Genius Group has approved a rights offering to purchase its shares, which will begin trading on NYSE American as “GNS RTWI” from January 24 to February 13, 2025.
All funds raised, as well as potential plans to secure loans up to $20 million, will be used to fund its Bitcoin Treasury.
More About Genius Group and Its Rights Offering
The company is going to implement a Bitcoin strategy that other companies are still considering. To do this, Genius Group is going to raise $33M from the Rights issue to buy shares. The Rights will be distributed proportionally to the number held by shareholders on the record date of January 24, 2025.
On the same date, trading, each share for $0.50, will begin on NYSE American as “GNS RTWI” and will end on February 13, 2025. In addition, there is the possibility of unredeemed shares, in which case the company will allow all shareholders to use over-subscription rights to purchase the remaining shares.
The Founder and CEO of the Company, Roger Hamilton, intends to submit an application to acquire 500,000 additional newly issued shares and will hold an aggregate of 6.8 million shares of the Company, representing approximately 10.3%.
All of this will be a great contribution to their Bitcoin strategy, as companies like MicroStrategy and entire nations like El Salvador are already doing.
“The Company also plans to pursue one or more additional loan financings of up to, in the aggregate, $20 million. If the Company is successful in raising the maximum amount in the Rights Offering and through additional loans, the Company’s Bitcoin Treasury will increase from approximately $35 million in Bitcoin to $86 million in Bitcoin.”
Conclusion
Genius Group is heavily emphasizing two key technologies of the 21st century, namely AI and Bitcoin. And even though these technologies have some costs, they are improving, making them smaller and smaller while their potential is being unlocked more and more.
Let’s see how intelligently they implement their strategy and whether it will live up to their expectations. Be aware and stay tuned.
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