Key Takeaways
Genius Group plans to broaden its Bitcoin treasury to $100 million via a rights providing and extra financing.
Shareholders should buy extra shares at $0.50 every, with rights expiring on February 14, 2025.
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Genius Group, an AI-powered training firm, is doubling down on its Bitcoin technique. The corporate introduced Friday a rights providing and plans for added loans to broaden its Bitcoin holdings to $100 million.
The proper providing supplies current shareholders with the chance to buy extra abnormal shares at a reduced worth of $0.50 per share, as famous within the announcement.
Shareholders of document as of January 24, 2025, acquired one transferable proper for every share they held. These rights could be exercised to buy one new abnormal share on the subscription worth.
Shareholders who totally train their primary subscription rights may have the chance to subscribe to extra shares that stay unsubscribed. This enables buyers to doubtlessly enhance their stake within the firm. Nonetheless, shareholders who promote any of their rights will forfeit their eligibility for the oversubscription privilege.
The rights are at the moment buying and selling on the NYSE American underneath the image “GNS RT” and can proceed to commerce till February 13, 2025.
Genius Group intends to make use of all web proceeds from the rights providing to broaden its Bitcoin treasury. If totally subscribed, the providing is predicted to boost as much as $33 million.
The corporate additionally goals to safe extra mortgage financing of as much as $22 million, doubtlessly rising its Bitcoin holdings from roughly $45 million to $100 million.
Genius Group first revealed plans to allocate 90% or extra of its reserves to Bitcoin final November, with an preliminary goal of $120 million. If each the rights providing and the mortgage financing are totally subscribed, the corporate will obtain over 80% of its aim.
Final month, Genius Group’s inventory (GNS) surged by 11% as the corporate elevated its Bitcoin treasury to $30 million, reporting a 177% rise in web asset worth and introducing BTC Yield as a efficiency metric.
Regardless of the constructive momentum, the corporate’s shares opened buying and selling on Friday at $0.46, reflecting an 8% decline over the previous 24 hours, per Yahoo Finance.
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