InvestmentApr 15, 2026, 09:04 AM
Genius Group Raises $8M, Funds 9.9% Stake in Jewel Financial
AI Summary
Genius Group Limited announced a registered direct offering to raise $8 million in gross proceeds by selling 21,621,621 ordinary shares at $0.37 per share. The company plans to use $5.5 million of the net proceeds to acquire a Senior Secured Convertible Promissory Note, immediately convertible into 9.9% equity of Jewel Financial Limited, which owns Bermuda's only dual-licensed digital bank, Jewel Bancorp Limited. This move supports Genius Group's GENIUS Act plans to become a Permitted Payment Stablecoin Issuer and Digital Asset Service Provider. The remaining proceeds will be used for working capital and general corporate purposes.
Key Highlights
- Raised $8 million gross proceeds from registered direct offering.
- Sold 21,621,621 shares at $0.37 per share.
- Allocating $5.5 million to acquire 9.9% equity in Jewel Financial.
- Issued 15,000,000 ordinary shares as additional acquisition consideration.
- Jewel Bancorp holds full banking and Class F digital asset licenses.