Genius Group Launches Rights Offering to Expand Bitcoin Holdings
Genius Group, an AI -driven education company Announce On Friday, there is a plan to provide additional loans to expand its Bitcoin holdings to $ 100 million.
It is worth noting that according to the announcement, the existing shareholders of the right -handed behavior provided the opportunity to purchase additional ordinary shares at a discount price of $ 0.50 per share. As of January 24, 2025, the recorded shareholders have obtained a transfer right of each shares they hold. You can exercise these rights to purchase a new ordinary stock at a subscribing price.
Shareholders who fully exercise their subscription rights can purchase any remaining unsolocking shares to increase their shares. However, the sale right will lose the ability to buy extra stocks.
At present, the right is trading by the New York Stock Exchange with the “GNS RT” as a sign, and will continue to trade until February 13, 2025.
Gemini uses 100 % net income
The company plans to use 100 % of the net income of rights products to buy bitcoin for its Bitcoin Finance Department. The company predicts that if the rights issuance is fully subscribed, the income will reach $ 33 million.
The company also aims to ensure up to $ 22 million in additional loan financing and may increase its Bitcoin holdings from about 45 million US dollars to $ 100 million.
It is worth noting that in November last year, Genius Group announced that it plans to distribute 90 % or more reserves to Bitcoin at a target of $ 120 million. If the rights and loan financing has been fully subscribed, the company will reach more than 80 % of the target.
