Summary by Futu 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