Edtech Firm Genius Group Prices US$19.6 Million IPO
Edtech and education group Genius Group Limited (NYSE: GNS) began trading on the New York Stock Exchange today under the symbol “GNS”. The firm prices its initial public offering for aggregate proceeds of approximately US$19.6 million.
The offering consists of 3,272,727 common shares at US6.00 per share. The company also said that the underwriters are exercising the over-allotment option to purchase additional 490,909 common shares at the same IPO price, pushing total proceeds to US$22.6 million.
Boustead Securities is acting as the sole bookrunner for the said offering.
The offering is expected to close on April 14, 2022, subject to customary closing conditions.
The group is said to be composed of four pre-IPO companies and four companies being acquired at the time of the closing of the IPO. Post-IPO, the group plans to combine the education programs of the IPO acquisitions with its current education programs and Edtech platform.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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