Summary by Moomoo AI
On January 17, 2024, Genius Group Limited, a leading entrepreneur edtech and education group, announced the successful closing of its public offering, raising $8.25 million. The offering included 23,571,429 ordinary shares and associated Series 2024-A and Series 2024-C warrants, with each share and warrant unit priced at $0.35. The Series 2024-A Warrants are exercisable immediately at $0.35 per share for five years, while the Series 2024-C Warrants are exercisable for 18 months. H.C. Wainwright & Co. served as the exclusive placement agent. The proceeds, before expenses and placement agent fees, will be used for general corporate purposes, including working capital, operating expenses, debt repayment, and supporting acquisitions. The offering was made under a registration statement declared effective by the SEC on January 11, 2024. Genius Group's CEO and Chairman, Roger Hamilton, converted $1 million of his outstanding loan to the company into securities at the same terms as the public offering. Genius Group operates GeniusU, a learning platform with 5.4 million users across 200 countries, and aims to disrupt traditional education with a student-centered curriculum.