Genius Group Launches $33 Million Rights Offering for Bitcoin Treasury Expansion
Genius Group has approved a $33 million rights offering aimed at enhancing its Bitcoin Treasury. The company plans to allocate 90% of its reserves to Bitcoin, targeting a total Treasury value of $120 million.
- In recent months, Genius purchased 372 BTC at an average price of $94,047.
- The rights offering could increase the company's Bitcoin reserves from $35 million to approximately $86 million.
- Shareholders as of January 24 will receive one right for each share held, allowing them to subscribe to additional shares at $0.50.
- Rights trading begins on NYSE under "GNS RTWI" from January 23, with regular trading starting January 27 until February 13.
- The offering expires on February 14 at 4:30 p.m. ET.
- CEO Roger Hamilton will purchase 6.8 million shares, raising his stake to 10.3%.
Bitcoin recently dropped below $90,000 before recovering to about $97,352.66. Currently priced at $96,468.67, Bitcoin's market cap is $1.91 trillion, nearing the $2 trillion mark. The Relative Strength Index (RSI) indicates strong bullish momentum, currently at 64.97.
