Genius Group Founder & CEO, Roger James Hamilton, Provides Personal Funding Of Up To $4M As An Interest Free Loan, To Be Converted Into Equity In Genius Group As Ordinary Shares And Upon The Same Terms At The Next Qualified Financing Round
Portfolio Pulse from Benzinga Newsdesk
Genius Group Limited (NYSE:GNS) has entered into a loan agreement with its CEO, Roger James Hamilton, who will provide the company with up to $4 million as an interest-free loan. This loan will be converted into equity in Genius Group as ordinary shares at the next Qualified Financing Round. The move is aimed at ensuring the company's growth without liquidity constraints.
October 12, 2023 | 7:34 pm
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Genius Group's CEO is providing an interest-free loan to the company, which will be converted into equity. This could provide a short-term boost to the company's liquidity and potentially its stock price.
The CEO's loan to Genius Group could improve the company's short-term liquidity, which may positively impact the stock price. The conversion of the loan into equity could dilute existing shares, but the CEO's increased stake could also signal confidence in the company's future, potentially attracting investors.
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