Genius Group launches $33m rights offering to boost Bitcoin reserve

Genius Group Limited, a Bitcoin-focused education company, 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 fully reservedy for Bitcoin (BTC) purchases, according to a company press release.

Each shareholder will receive, as of January 24, 2025, a tradable right for each share they hold. These rights will allow shareholders to purchase shares at the set price and, if exercised in full, will give them the option to purchase the remaining unsubscribed shares.

Shareholders who choose not to use their rights can sell them on the NYSE American, with trading scheduled to begin on January 23, 2025. The rights offering will close on February 14, 2025.

Genius Group’s adoption of Bitcoin

This decision is part of the Genius Group program plan to increase his 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 under a prior agreement and has committed to fully subscribe to his rights in the offering, according to the release. Its stake could reach more than 10% of the company’s total shares.

Genius Group, which integrates AI solutions into education, considers Bitcoin a key part of its financial strategy. CEO Roger Hamilton 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-powered educational platforms. These plans include the implementation of on-chain certifications and reward systems using Bitcoin’s Lightning Network.