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Genius Group | F-1/A: Registration statement for securities of certain Canadian issuers (Amendment)

SEC announcement ·  Aug 15 10:22
Summary by Moomoo AI
Genius Group Limited (GNS) has announced the immediate exercise of certain outstanding Series 2024-C warrants to purchase up to 10,950,451 of the company's ordinary shares at a price of $0.35 per share. The exercise is expected to generate approximately $3.8 million in gross proceeds for the company, before deducting placement agent fees and estimated offering expenses. In exchange for the immediate cash exercise of the warrants, Genius Group will issue new unregistered Series 2024-D and Series 2024-E warrants to purchase up to 10,950,451 ordinary shares each. The Series 2024-D warrants will have a term of five and a half years, and the Series 2024-E warrants will have a term of two years from the issuance date. Additionally, the company has agreed to amend...Show More
Genius Group Limited (GNS) has announced the immediate exercise of certain outstanding Series 2024-C warrants to purchase up to 10,950,451 of the company's ordinary shares at a price of $0.35 per share. The exercise is expected to generate approximately $3.8 million in gross proceeds for the company, before deducting placement agent fees and estimated offering expenses. In exchange for the immediate cash exercise of the warrants, Genius Group will issue new unregistered Series 2024-D and Series 2024-E warrants to purchase up to 10,950,451 ordinary shares each. The Series 2024-D warrants will have a term of five and a half years, and the Series 2024-E warrants will have a term of two years from the issuance date. Additionally, the company has agreed to amend existing warrants issued in April 2024, reducing the exercise price to $0.35 per share and issuing an additional 6,000,000 warrants to the holder. The offering closed on May 22, 2024, and the company intends to use the net proceeds for general corporate purposes, including working capital, operating expenses, debt repayment, and support for acquired assets. The shares underlying the warrants are registered under an effective registration statement on Form F-1. The company has not disclosed any plans to list the new warrants on any national securities exchange or other trading system.

This announcement is a separate document:

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