Singapore and Irvine, CA — January 22, 2024 – Boustead Securities, LLC (“Boustead”) NYSE American IPO client Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, announced the closing of its public offering for US$8.25 million in gross proceeds to the Company, before deducting the placement agent’s fees and other offering expenses payable by the Company (the “Offering”). Mr. Roger Hamilton, Genius Group CEO and Chairman, converted approximately $1 million of his outstanding loan to the Company into the securities offered in the public offering at the same terms and conditions, which amount was included in the gross proceeds from the offering. The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital, operating expenses, debt repayment and to support acquisitions.
The Offering consisted of 23,571,429 of the Company’s ordinary shares, Series 2024-A warrants (“Series 2024-A Warrants”) to purchase up to 23,571,429 of the Company’s ordinary shares and Series 2024-C warrants (“Series 2024-C Warrants”) to purchase up to 23,571,429 of the Company’s ordinary shares, at a combined offering price of $0.35 per ordinary share and associated warrants. The Series 2024-A Warrants have an exercise price of $0.35 per ordinary share and are immediately exercisable upon issuance for a period of five years following the date of issuance. The Series 2024-C Warrants have an exercise price of $0.35 per ordinary share and are immediately exercisable upon issuance for a period of 18 months following the date of issuance.
The securities described above were offered pursuant to a registration statement on Form F-1 (File No. 333-273841) originally filed with the Securities and Exchange Commission (“SEC”) on August 9, 2023, as amended, and declared effective by the SEC on January 11, 2024. The offering was made only by means of a prospectus, which forms a part of the effective registration statement. Electronic copies of the final prospectus may be obtained for free on the SEC’s website located at http://www.sec.gov.
This release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Genius Group
Genius Group is a leading entrepreneur edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed. Through its learning platform, GeniusU, the Genius Group has a member base of 5.4 million users in 200 countries, ranging from early age to 100.
For more information, please visit: https://www.geniusgroup.net/
Boustead Securities, LLC
Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit: www.boustead1828.com
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