Genius Group is raising funds to significantly increase its Bitcoin holdings, aiming for $100 million. They’re offering existing shareholders a chance to buy more shares at a discount to help finance this crypto expansion.
What’s the Deal with This Rights Offering?
So, how exactly is Genius Group going about this? They’ve launched what’s called a “rights offering.” Basically, they’re giving their current shareholders a chance to buy new shares at a lower price – just $0.50 each. The source explained that if you were a shareholder as of January 24th, 2025, you got one “right” for each share you owned. These rights let you buy one new share at that discount. It’s like getting a coupon for more stock!
But here’s the catch: these “rights” are tradable under the symbol “GNS RT” until February 13, 2025. If you sell your rights, you lose your chance to buy the discounted shares. However, if you do exercise your rights and there are any shares left over, you can buy those too, which would increase your stake in the company. According to the announcement, all of the net proceeds from this rights offering are going straight into buying Bitcoin for their company treasury. The source indicated that if all goes well, this offering could bring in up to $33 million.
Going Big on Bitcoin
But they’re not stopping there. The company is also aiming to get additional loans, potentially up to $22 million! If all of this comes together, their total Bitcoin holdings could jump from around $45 million to a cool $100 million. That’s a huge leap! The source revealed that last November, Genius Group had even talked about putting 90% or more of their reserves into Bitcoin, aiming for a $120 million target. If they succeed with this rights offering and loan, they’ll be pretty close to achieving that goal, hitting over 80% of it. It’s a bold move, showing a strong belief in the future of Bitcoin.
Source: Bitcoin | Bitcoinethereumnews.com
