Key dealers
- Genius Group plans to expand its Bitcoin Treasury to $ 100 million through a rights offer and further funding.
- Shareholders can buy additional shares to $ 0.50 each, with rights expiring on February 14 2025.
Genius Group, an AI-driven training company, doubles its bitcoin strategy. The company announced Friday A rights offer and plans for additional loans to extend their Bitcoin holding to $ 100 million.
The right offer gives existing shareholders the opportunity to buy additional regular shares at a discounted price of $ 0.50 per share, which is listed in the announcement.
Shareholders in the record on January 24, 2025 received a transmitted right for each share they held. These rights can be exercised to buy a new regular share at the subscription price.
Shareholders who fully exercise their basic subscription rights will be able to subscribe to additional shares that remain written off. This allows interested investors to potentially increase their share in the company. However, shareholders who sell one of their rights will lose their eligibility to overall privilege.
The rights are currently traded at NYSE -American under the symbol “GNS RT” and will continue to shop until February 13, 2025.
Genius Group intends to use all net income from the rights offer to expand its bitcoin treasury. If it is completely subscribed, the offer is expected to collect up to $ 33 million.
The company also aims to ensure additional loan financing of up to $ 22 million, which potentially increases its Bitcoin holdings from about $ 45 million to $ 100 million.
Genius Group first revealed plans to assign 90% or more of its reserves to Bitcoin in November last year, with a first goal of $ 120 million. If both the rights offer and the loan financing are fully subscribed, the company will achieve over 80% of its goal.
Last month, Genius Groups Lager (GNS) increased by 11% as the company increased its Bitcoin Treasury to $ 30 millionReports an increase of 177% in net assets and introduces BTC returns as a performance metric.
Despite the positive momentum, the company’s shares opened on Friday at $ 0.46, which reflects a decline of 8% over the past 24 hours, per Yahoo Finance.