Genius Group, an AI-powered education company announced on Friday a rights offering with plans for additional loans to expand its Bitcoin holdings to $100 million.
Notably, the right offering provides existing shareholders the opportunity to purchase additional ordinary shares at a discounted price of $0.50 per share, as per the announcement. Shareholders of record as of January 24, 2025, received one transferable right for each share they held. These rights can be exercised to purchase one new ordinary share at the subscription price.
Shareholders who fully exercise their subscription rights can buy any remaining unsubscribed shares, allowing them to increase their stake. However, selling the rights will forfeit the ability to purchase additional shares.
The rights are currently trading on the NYSE American under the symbol “GNS RT” and will continue to trade until February 13, 2025.
Gemini To Use 100% Of Net Proceeds
The Company plans to use 100% of the net proceeds of the Rights Offering to purchase Bitcoin for its Bitcoin Treasury. The Company anticipates that, in the event that the Rights Offering is fully subscribed, the proceeds will be up to $33 million.
The company also aims to secure additional loan financing of up to $22 million, potentially increasing its Bitcoin holdings from approximately $45 million to $100 million.
Notably, Last November, Genius Group announced plans to allocate 90% or more of its reserves to Bitcoin, with a target of $120 million. If the rights offering and loan financing are fully subscribed, the company will reach over 80% of that goal.
