Genius Group announces issuance, trading of rights in rights offering

Genius Group (GNS) announced that rights have been issued to its shareholders as of the record date for its recently announced rights offering. Rights are now exercisable or tradeable, with the expiration of the rights period being February 14, 2025. Each shareholder has received one transferable right for each ordinary share held on January 24, 2025. Each Right entitles the holder to purchase one ordinary share of the Company at the subscription price of $0.50 per whole ordinary share. 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 allows a rights holder to subscribe for additional ordinary shares of the Company at the subscription price on a pro rata basis. Any record date shareholder who sells any Rights will not be eligible to participate in the over-subscription privilege. Rights holders who choose to exercise all or part of their Rights, and may sell any Rights they choose not to exercise. Trading in the Rights on the NYSE American is trading on a “regular way” under the symbol “GNS RT” and will continue until the close of trading on the NYSE American on February 13, 2025. The Rights Offering expires at 4.30 p.m., Eastern Time, on February 14, 2025 unless extended by the Company. The Company plans to use 100% of the net proceeds of the Rights Offering to purchase Bitcoin for its Bitcoin Treasury. The Company anticipates that, in the event that the Rights Offering is fully subscribed, the proceeds will be up to $33M. The Company also plans to pursue one or more additional loan financings of up to, in the aggregate, $22M. If the Company is successful in raising the maximum amount in the Rights Offering and through additional loans, the Company’s Bitcoin Treasury will increase from approximately $45M in Bitcoin to $100M in Bitcoin.