Genius Group Expands Bitcoin Treasury to $100M
Genius Group Expands Bitcoin Treasury to $100 Million
Genius Group, an AI-powered education technology company, is significantly increasing its Bitcoin holdings. The company announced a rights offering and plans for supplemental loans to boost its Bitcoin treasury to $100 million.
Key Highlights
- Rights Offering: Existing shareholders can buy additional shares at $0.50 each. Rights expire on February 14, 2025.
- Loan Financing: Genius Group seeks an additional $22 million in loans.
- Treasury Goal: The combined rights offering and loan financing aim to increase Bitcoin holdings from approximately $45 million to $100 million.
The rights offering allows existing shareholders to purchase additional ordinary shares at a discounted rate. Shareholders of record as of January 24, 2025, received one transferable right per share held. These rights are tradable on the NYSE American under the symbol "GNS RT" until February 13, 2025. Full subscription is projected to raise $33 million.
This expansion builds upon Genius Group’s November announcement to allocate 90% or more of its reserves to Bitcoin, initially targeting $120 million. The current plan represents over 80% of this initial goal if both the rights offering and loan financing are fully realized.
This strategic move follows a recent 11% surge in Genius Group’s stock (GNS) after the company increased its Bitcoin holdings to $30 million in December. However, it's important to note that the company’s shares opened at $0.46 on Friday, representing an 8% decrease in the preceding 24 hours.
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