Genius Group announces $33 million rights issue to buy Bitcoin
artificial intelligence company Genius Group (NYSE American: GNS) announced that its board of directors has approved a plan to continue offering 33 million US dollars in shares to the public for the purchase of Bitcoin for the company's Bitcoin treasury. The net proceeds from the offering will be used 100% for purchasing Bitcoin for the company's Bitcoin treasury. In addition, the company plans to seek one or more additional loan financing, with a total amount of up to $20 million. If the company successfully raises the maximum amount through the offering and additional loans, its Bitcoin reserve will increase from about $35 million worth of Bitcoin to $86 million worth of Bitcoin.
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