Genius Group seeks up to $55 million in rights issue and additional loan financing to buy BTC to bolster its bitcoin reserves
2025-01-31 14:34:46
NYSE listing company genius group announcement shareholders offeringdesk3cryptocurrencydesktopCrypto News
NYSE-listed Genius Group announced that it has issued a rights issue to its shareholders. The rights issue will be carried out only by supplementing the prospectus. The company plans to use 100% of the net proceeds of the rights issue to purchase BTC to replenish its bitcoin reserves. It is expected that if the rights issue is fully subscribed, the proceeds will reach $33 million. In addition, Genius Group also announced that it is seeking one or more additional loan financing, totaling up to $22 million. If the company successfully raises the maximum amount in the rights issue and additional loans, then the size of its bitcoin reserves will increase from the current $45 million to $100 million.
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