The post Genius Group Approves $33M Rights Offering for Bitcoin Purchase appeared on BitcoinEthereumNews.com.

Genius Group Limited (NYSE American: GNS), an AI-powered Bitcoin-focused education group, has announced the approval of a $33 million rights offering. The company plans to allocate the full proceeds of the offering to its Bitcoin Treasury as part of its “Bitcoin-first” strategy. This move could increase its Bitcoin reserves from $35 million to as much as $86 million, depending on the offering’s subscription level and additional loan financings. Genius Group Greenlights $33M Rights Offering for Bitcoin Buying According to the rights offering, the shareholders of Genius Group as on January 24, 2025, shall have one right for every share held and this right shall be transferable. Each right entitles the holder to subscribe to one ordinary share at $0.50. The shareholders may also apply for more shares when the others do not wish to take their rights. This move has occured amid the Bitcoin price recovery with bulls taking the charge and BTC trading at $95,978, a 4% surge from the intra-day low. The rights will commence trading on the NYSE American under the ticker symbol “GNS RTWI” on a when-issued basis from January 23, 2025. The regular trading under the symbol “GNS RT” will start from January 27, 2025 and ends on February 13, 2025. The offering officially expires at 4:The Offer will expire at 11:30 p.m. Eastern Time on February 14, 2025, unless extended by the company. Roger Hamilton, the CEO and the founder of Genius Group, agreed to fully participate in the offering. He intends to buy an additional 6.8 million shares through the exercise of his rights, which would increase his stake in the company to about 10.3% of its total share.  Bitcoin-First Strategy and Planned Treasury Expansion Genius Group’s decision to allocate all the funds raised in the offering to Bitcoin is consistent with the…

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Filed under: News - @ January 15, 2025 2:22 am