Genius Group Ltd GNS shares are trading lower by 45% to $0.28 Friday morning after the company disclosed the pricing details for a public offering involving 23,571,429 ordinary shares, Series 2024-A warrants and Series 2024-C warrants.
The combined offering price is set at $0.35 per ordinary share, with the Series 2024-A and Series 2024-C warrants having exercise prices of $0.35 per ordinary share.
The offering, expected to close around January 17, aims to generate approximately $8.25 million in gross proceeds for the Company. H.C. Wainwright & Co. is serving as the exclusive placement agent.
The net proceeds will be utilized for general corporate purposes, including working capital, operating expenses, debt repayment and potential acquisitions.
Additionally, the company’s CEO Roger Hamilton, plans to convert $1 million of his outstanding loan into the offered securities.
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According to data from Benzinga Pro, GNS has a 52-week high of $7.99 and a 52-week low of $0.42.
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