Genius Group announces $33 Million Rights Offering to increase Bitcoin Treasury

Rights Offering Details - The company has approved a $33 million rights offering for its ordinary shares, with 100% of net proceeds to be used to purchase Bitcoin for its Bitcoin Treasury [1] - Each shareholder will receive one transferable right for each ordinary share held on January 24, 2025, with the number of Rights rounded up to the nearest whole number [5] - Each Right entitles the holder to purchase one ordinary share at a subscription price of $0.50 per share [5] - Rights holders who fully exercise their Basic Subscription Rights can subscribe for additional unsubscribed shares on a pro rata basis [5] - Rights holders can sell their Rights, with trading expected to begin on January 23, 2025, under the symbol "GNS RTWI" and continue until February 13, 2025 [5] - The Rights Offering expires at 4:30 p.m. Eastern Time on February 14, 2025, unless extended [5] Founder and Management Participation - The Founder and CEO, Roger Hamilton, intends to acquire 500,000 additional shares, following the purchase of 500,000 shares on October 8, 2024, with the remaining 500,000 shares to be purchased on January 15, 2025 [2] - Following the acquisition, Mr. Hamilton will own approximately 6.8 million shares, representing 10.3% of the company's 66 million issued shares [8] - Mr. Hamilton has notified the company that he will fully subscribe to his rights under the Rights Offering, amounting to rights for an additional 6.8 million shares [8] Use of Funds and Bitcoin Treasury - The company plans to use 100% of the net proceeds from the Rights Offering to purchase Bitcoin for its Bitcoin Treasury, with anticipated proceeds of up to $33 million if fully subscribed [5] - The company also plans to pursue additional loan financings of up to $20 million, which, if successful, would increase the Bitcoin Treasury from approximately $35 million to $86 million [5] Investor Call and Webcast - The company will hold a live webcast and investor call on January 15, 2025, at 5:00 p.m. Eastern Time to discuss the Rights Offering, 2025 outlook, and Bitcoin Treasury strategy [13] Company Overview - Genius Group is a Bitcoin-first business delivering AI-powered education and acceleration solutions, serving 5.4 million users in over 100 countries through its Genius City model and online digital marketplace [14]