The Company’s ordinary shares are expected to trade "Ex-Rights” on the NYSE American beginning on January 24, 2025. ●Each Right entitles the holder to purchase one ordinary share of the Company (the "Basic Subscription Right”) at the subscription price of $0.50 per whole ordinary share (the "Subscription Price). ●Rights holders who fully exercise their Basic Subscription Rights will be entitled to subscribe for additional ordinary shares of the Company that remain unsubscribed as a result of any unexercised Basic Subscription Rights (the "Over-subscription Right”).
SINGAPORE, Jan.14, 2025 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) ("Genius Group” or the "Company”), a leading AI-powered, Bitcoin-first education group, announced today that its Board of Directors (the "Board”) has approved a plan to proceed with a $33 million rights offering for the Company’s ordinary shares (the "Rights Offering”), with 100% of net proceeds to be used to purchase Bitcoin for the Company’s Bitcoin Treasury.
Hamilton has notified the Company that he would fully subscribe to his rights under this Rights Offering, which will amount to rights to an additional 6.8 million shares on the same terms as all shareholders on the Record Date as detailed above. The subscription agent for the Rights Offering will send a rights certificate to each registered holder of the Company’s ordinary shares as of the close of business on the record date, based on the Company’s stockholder registry maintained at the transfer agent for its ordinary shares.
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