TechFlow news — On January 31, NYSE-listed company Genius Group announced a rights offering to shareholders. The company plans to use all proceeds from the offering to purchase bitcoin, increasing its bitcoin holdings. If the rights issue is fully subscribed, it is expected to raise up to $33 million. Additionally, the company plans to secure loan financing in one or more tranches, totaling up to $22 million.
If the maximum amount is successfully raised, the company’s bitcoin reserves will increase from the current level of approximately $45 million to $100 million.
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