Genius Group seeks up to $55 million in rights issue and additional loan financing to purchase BTC to enrich its Bitcoin reserves

According to a report by Golden Finance, Genius Group, a company listed on the New York Stock Exchange, announced that it has issued a rights issue to its shareholders, which will only be conducted through a supplementary prospectus. The company plans to use 100% of the net proceeds from the rights issue to purchase BTC to enrich its Bitcoin reserves. It is expected that the total subscription proceeds from the rights issue will reach $33 million. In addition, Genius Group has announced that it is seeking one or more additional loan financing, with a total amount of up to $22 million. If the company successfully raises the highest amount through rights issues and additional loans, its Bitcoin reserve size will increase from the current $45 million to $100 million.