SINGAPORE, April 12, 2022 (GLOBE NEWSWIRE) -- Genius Group Limited ("Genius Group" or the "Company") announced that its ordinary shares commenced trading on the NYSE American today under the ticker symbol 'GNS'. The shares closed above the $6.00 offering price at $30.50.
On April 11, 2022, the Company priced its firm commitment underwritten public offering (the "Offering") of 3,763,636 ordinary shares at a price of $6.00 per share. The gross proceeds to the Company from the Offering were $22,581,816, before deducting underwriting discounts, commissions and other expenses. These amounts include the full exercise of the underwriter's over-allotment option.
Boustead Securities, LLC acted as the sole underwriter for the firm commitment Offering.
The securities described above are being sold by Genius Group Limited pursuant to a registration statement, as amended, filed by the Company with the Securities and Exchange Commission (the "SEC"), which was declared effective on March 31, 2022. The Offering has been made only by means of a prospectus. A copy of the final prospectus related to the Offering may be obtained, when available, from Boustead Securities, LLC, via email: offerings@boustead1828.com or by calling +1 (949) 502-4408 or standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA. In addition, a copy of the final prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.
About Genius Group
Genius Group is a world leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today's market. The group has over 2.7 million students in 200 countries, ranging from ages 0 to 100. The group includes four pre-IPO companies (the "Pre-IPO Group"), and four companies being acquired at the time of the closing of the IPO (the "IPO Acquisitions").
The entrepreneur education system of our Pre-IPO Group has been delivered virtually and in-person, in multiple languages, locally and globally mainly via the Pre-IPO Group's artificial intelligence (AI) powered, personalized GeniusU Edtech platform to adults seeking to grow their entrepreneur and leadership skills.
The Pre-IPO Group includes Genius Group, GeniusU, Entrepreneurs Institute and Entrepreneur Resorts. This group of entrepreneur education companies has grown through organic growth and acquisitions, with a focus on adding value to each company through GeniusU, which is being developed to provide AI-driven personal recommendations and guidance for each student. The Pre-IPO Group is now expanding its education system to age groups beyond its current adult audience, to children and young adults. The four IPO Acquisitions are the first step towards this. They include: Education Angels, which provides early learning in New Zealand for children from 0-5 years old; E-Square, which provides primary and secondary school education in South Africa; University of Antelope Valley, which provides vocational certifications and university degrees in California, USA; and Property Investors Network, which provides property investment courses and events in England, UK.
Genius Group's post-IPO plan is to combine the education programs of the IPO Acquisitions with its current education programs and Edtech platform as part of one lifelong learning system, and it has selected these acquisitions because they already share aspects of the Genius curriculum and its focus on entrepreneur education.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering. No assurance can be given that the offering and acquisitions discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
For Underwriter Inquiries Please Contact:
Boustead Securities, LLC
Daniel J. McClory, Head of Equity Capital Markets
Tel: +1 949 502 4408
Email: dan@boustead1828.com
Company Contact:
Dave Gentry
RedChip Companies, Inc.
Phone: +1 407 4914498
GNS@redchip.com
