The offering will allow existing shareholders to purchase additional shares at $0.50 each, and the proceeds will be entirely allocated to Bitcoin.
According to a company statement, each shareholder will receive a transferable right for each share they own as of January 24, 2025. These rights will allow shareholders to purchase shares at the established price, and if fully exercised, will give them the option to buy any remaining unsubscribed shares.
Shareholders who choose not to exercise their rights may sell them on the New York Stock Exchange (NYSE American), and trading will begin on January 23, 2025. The rights offering will close on February 14, 2025.
Corporate Bitcoin holders are "about to explode," says the CIO of Bitwise.
Genius Group's adoption of Bitcoin
The measure is part of Genius Group's plan to increase its Bitcoin holdings. If fully subscribed, the offering would raise $33 million, increasing the company's Bitcoin reserves from $35 million to $68 million. Additionally, the company aims to secure up to $20 million in loans, which could bring its Bitcoin Treasury to $86 million.
Founder and CEO Roger Hamilton plans to purchase an additional 500,000 shares as part of a prior agreement and has committed to subscribe to all of his rights in the offering, according to the statement. His stake could exceed 10% of the total shares of the company.
Genius Group, which integrates artificial intelligence solutions in education, sees Bitcoin as a key component of its financial strategy. CEO Roger Hamilton has compared the company's approach to that of other publicly traded companies that have adopted Bitcoin as a reserve asset, highlighting its potential as a "store of value" in the digital economy.
The company's "Bitcoin-first" strategy aligns with its plans to integrate blockchain technology into its AI-driven educational platforms. These plans include the implementation of on-chain certifications and reward systems using Bitcoin's Lightning network.
