On March 18, 2024, Genius Group Limited, a Singapore-based entrepreneur edtech and education group, announced the completion of its transaction with FatBrain AI, providing additional details on the deal. The transaction involved the purchase of selected FatBrain AI assets and liabilities in an all-share transaction, resulting in the formation of an AI-powered Education and Acceleration group. Post-transaction, Genius Group anticipates a 150% increase in pro forma revenue for 2023, with guidance growing to an estimated $76 million to $80 million, and a similar increase in pro forma net profit, with guidance between $7 million to $9 million. The company's total assets are expected to grow by 40%, with total liabilities projected to increase by 50%. The transaction did not result in a merger, leaving Genius...Show More

On March 18, 2024, Genius Group Limited, a Singapore-based entrepreneur edtech and education group, announced the completion of its transaction with FatBrain AI, providing additional details on the deal. The transaction involved the purchase of selected FatBrain AI assets and liabilities in an all-share transaction, resulting in the formation of an AI-powered Education and Acceleration group. Post-transaction, Genius Group anticipates a 150% increase in pro forma revenue for 2023, with guidance growing to an estimated $76 million to $80 million, and a similar increase in pro forma net profit, with guidance between $7 million to $9 million. The company's total assets are expected to grow by 40%, with total liabilities projected to increase by 50%. The transaction did not result in a merger, leaving Genius Group Ltd as the parent company with FatBrain assets in a wholly-owned subsidiary. The leadership team will include members from both entities, with a board representation of 29% from FatBrain AI. Shareholders of FatBrain AI will receive one Genius Group share for every three FatBrain AI shares, leading to an ownership split of 57% for Genius Group's shareholders and 43% for FatBrain AI's shareholders. The transaction received all necessary approvals and is not considered a change of control. The market capitalization post-transaction indicates a potential upside in share price compared to Edtech peers. Genius Group's growth plan includes launching 100 Genius Cities and impacting 100 million customers and students, aiming for $1 billion in annual revenues within the next decade. The details of the growth plan will be presented in an investor call on March 21, 2024.