Artificial intelligence company Genius Group (NYSE American: GNS) announced that its board of directors has approved a plan to proceed with a $33 million rights issue of the company's common stock, with 100% of the net proceeds from the rights issue going towards the purchase of bitcoin for the company's bitcoin vault.
In addition, the company plans to seek one or more additional loan financings totaling up to $20 million. If the company succeeds in raising the maximum amount in the rights issue and additional loans, the company's bitcoin reserves will increase from about $35 million in bitcoin to $86 million in bitcoin.
Genius Group Announces Issuance of $33 million Allotment to Buy Bitcoin
2025-01-14 14:53:06
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