Genius Group Ltd., a Bitcoin-centric educational organization, has unveiled plans for a $33 million fundraising round aimed at bolstering their Bitcoin reserves.
In the announcement, it’s stated that current shareholders have the opportunity to buy extra shares priced at $0.50 apiece. The funds raised from this sale will be specifically allocated towards purchasing Bitcoins (BTC).
Each share you own on January 24, 2025, will grant you one transferable voucher. These vouchers allow you to purchase additional shares at a predetermined price. If all the vouchers are used, they provide an opportunity for you to acquire any remaining unsold shares.
As an analyst, I’m sharing that for those shareholders who opt not to exercise their rights, they have the opportunity to sell them on the NYSE American, with trading commencing from January 23, 2025. The rights offering will come to a close on February 14, 2025.
Genius Group’s Bitcoin embrace
Genius Group’s strategy involves enhancing its Bitcoin investments, and this move is a part of that plan. If successful, this offering will bring in approximately $33 million, thereby raising the company’s Bitcoin reserves from an existing $35 million to a potential $68 million. Furthermore, the company intends to borrow up to $20 million in loans, which could potentially elevate its Bitcoin holdings to around $86 million.
According to the announcement, Founder and CEO Roger Hamilton intends to acquire an additional 500,000 shares as per a previous arrangement, and he has pledged to exercise his full rights in the offering. This could potentially increase his share ownership to more than 10% of the company’s total outstanding shares.
The Genius Group, known for blending AI into education, considers Bitcoin an essential element in their financial planning. Similar to other publicly listed companies adopting Bitcoin as a reserve currency, CEO Roger Hamilton likens this strategy to its potential as a “repository of worth” within the digital marketplace.
As a researcher, I’m focused on exploring the integration of blockchain technology within our AI-driven educational platforms. This alignment with our “Bitcoin-first” strategy means we aim to leverage Bitcoin’s capabilities, particularly its Lightning Network, for implementing on-chain certifications and reward systems.
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2025-01-14 20:46