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Genius Group | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement · Mar 18 13:40

GNS -4.38%

Summary by Moomoo AI

On March 18, 2024, Genius Group Limited, a leading entrepreneur edtech and education group listed on the NYSE American under the ticker GNS, announced a definitive merger agreement with OpenExO, an AI-driven global community focused on building exponential ecosystems. The all-share transaction is aimed at accelerating Genius Group's plans to establish a global AI Education Group, which includes the development of 100 Genius Cities and the preparation of 100 million students for the future. OpenExO, co-founded by Salim Ismail and Kent Langley, is recognized for its expertise in exponential thinking and has been influential in transforming cultures and teams within Fortune 500 companies and governments using disruptive technologies. Genius Group's CEO, Roger Hamilton, highlighted the merger's alignment with the company's recent initiatives, such as the Genius City model and the edtech platform GeniusU, which are based on OpenExO's principles. The merger is expected to enhance the company's growth rate and contribute to its goal of achieving $1 billion in annual revenues, 100 million students, and 100 Genius Cities within the next decade. The transaction is subject to various closing conditions, including NYSE approval. Genius Group's educational mission is to provide a student-centered, lifelong learning curriculum, and it currently serves a user base of 5.4 million across 200 countries through its platform, GeniusU.

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