Genius Group Limited, a Bitcoin-focused education company, has announced a $33 million rights offering to expand its Bitcoin Treasury.
The offering will allow existing shareholders to purchase additional shares at $0.50 each, with proceeds earmarked entirely for Bitcoin (BTC) purchases, according to a company release.ย
Each shareholder will receive one transferable right for every share they hold as of Jan. 24, 2025. These rights will enable shareholders to buy shares at the set price and, if fully exercised, give them the option to purchase any remaining unsubscribed shares.
Shareholders who choose not to use their rights can sell them on the NYSE American, with trading set to begin on Jan. 23, 2025. The rights offering will close on Feb. 14, 2025.
Genius Groupโs Bitcoin embraceย
The move is part of Genius Groupโs plan to increase its Bitcoin holdings. If fully subscribed, the offering would raise $33 million, boosting the companyโs Bitcoin reserves from $35 million to $68 million. Additionally, the company aims to secure up to $20 million in loans, which could push its Bitcoin Treasury to $86 million.
Founder and CEO Roger Hamilton plans to purchase 500,000 additional shares as part of a prior agreement and has committed to fully subscribing to his rights in the offering, according to the release. His shareholding could rise to over 10% of the companyโs total shares.
Genius Group, which integrates AI solutions into education, views Bitcoin as a key component of its financial strategy. CEO Roger Hamilton has compared the companyโs approach to that of other publicly traded firms that have adopted Bitcoin as a reserve asset, emphasizing its potential as a โstore of valueโ in the digital economy.
The firmโs โBitcoin-firstโ strategy aligns with its plans to incorporate blockchain technology into its AI-powered education platforms. These plans include implementing on-chain certifications and reward systems using Bitcoinโs Lightning Network.
