- Genius Group ( NYSE: GNS ) shares popped as much as 8% pre-market on Thursday after the edtech firm announced a $18.13M private placement.
- The company entered into a securities purchase agreement with an institutional investor for the sale of $18.13M principal amount of Senior Secured Convertible Notes for a purchase price of $17M.
- The note will have 30-month maturity, will bear interest at a per annum rate of 5% and can be converted at a price of $5.17/ordinary share for voluntary conversions of the note.
- Net proceeds will be used for general corporate purposes and for acquisitions to the extent permitted under the purchase agreement.
- The offering will close around Aug, 26, 2022.
For further details see:
Genius Group stock rises on offering of $18.13M senior convertible notes