- Education group Genius Group ( NYSE: GNS ) will launch up to $7.5M at-the-market financing transaction, having signed a non-binding term sheet with Global Corporate Finance for the placement.
- The company will issue ordinary shares at a price equal to the lowest calculated VWAP of the shares for the applicable pricing method, minus an 8% discount.
- The company will pay a $150,000 commitment fee to the purchaser, payable in ordinary shares.
- The financing commitment is subject to final due diligence.
- The two parties are expected to enter into a definitive binding agreement within 30 days.
- The net proceeds are expected to be used for general corporate purposes, working capital and acquisitions.
- Source: Press Release
For further details see:
Genius Group to launch up to $7.5M at-the-market financing transaction