Genius Group (GNS) said Wednesday it filed a registration statement for up to 90 million subscription rights and an equal amount of shares issuable on the exercise of the rights.
The company said it will distribute one transferable right to buy a share for $0.50 apiece against each ordinary share held to shareholders at no charge.
Net proceeds will be used to buy Bitcoin for the company's Bitcoin Treasury, Genius Group said.
The rights offering expires on Feb. 14, unless extended, according to the company.
Shares of Genius Group were down nearly 6% in recent trading.
Price: 0.64, Change: -0.04, Percent Change: -5.88
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