Genius Group Limited (GNS.US), a leading entrepreneur Edtech and education group, announced the immediate exercise of certain outstanding Series 2024-C warrants to purchase an aggregate of 10,950,451 of the company's ordinary shares at an exercise price of $0.35 per share. The gross proceeds from the exercise are expected to be approximately $3.8 million, before deducting placement agent fees and estimated offering expenses. In consideration for the immediate exercise, the company will issue new unregistered Series 2024-D and Series 2024-E warrants. The Series 2024-D warrants will have a five-and-a-half-year term, and the Series 2024-E warrants will have a two-year term, both exercisable upon issuance. The offering is expected to close around May 22, 2024, subject to customary closing conditions...Show More

Genius Group Limited (GNS.US), a leading entrepreneur Edtech and education group, announced the immediate exercise of certain outstanding Series 2024-C warrants to purchase an aggregate of 10,950,451 of the company's ordinary shares at an exercise price of $0.35 per share. The gross proceeds from the exercise are expected to be approximately $3.8 million, before deducting placement agent fees and estimated offering expenses. In consideration for the immediate exercise, the company will issue new unregistered Series 2024-D and Series 2024-E warrants. The Series 2024-D warrants will have a five-and-a-half-year term, and the Series 2024-E warrants will have a two-year term, both exercisable upon issuance. The offering is expected to close around May 22, 2024, subject to customary closing conditions. The company intends to use the net proceeds for general corporate purposes, including working capital, operating expenses, debt repayment, and to support acquired assets. Additionally, the company agreed to amend certain existing warrants issued in April 2024, reducing the exercise price to $0.35 and issuing an additional 6,000,000 warrants to the holder. The shares underlying the warrants are registered under an effective registration statement on Form F-1. The company's ordinary shares are listed on the NYSE American under the symbol 'GNS'.