Genius Group Closes Initial Public Offering
April 14 2022 - 2:13PM
Genius Group Limited (“Genius Group” or the “Company”) announced
the closing of its initial public offering of 3,763,636 ordinary
shares, including 490,909 ordinary shares issued pursuant to the
full exercise by the underwriter of its over-allotment option, at a
price of $6.00 per share (the “Offering”) resulting in $22,581,816
of gross proceeds to the Company, prior to deducting underwriting
discounts, commissions and other expenses. All of the ordinary
shares were offered by Genius Group.
The Company listed its ordinary shares on the
NYSE American, effective April 12, 2022, under the symbol
“GNS.”
Boustead Securities, LLC acted as the sole
underwriter for the firm commitment Offering.
A registration statement on Form F-1, as amended
(File No. 333-257700) relating to the ordinary shares was filed
with the Securities and Exchange Commission (“SEC”) and was
declared effective on March 31, 2022. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
these securities, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
The Offering has been made only by means of a
prospectus. A copy of the final prospectus related to the Offering
may be obtained 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 today’s
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.
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. 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 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
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