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Tag: GNS stock

  • High Profile Merger Propels Genius Group (GNS) Stock in After-Hours

    Genius Group Limited (NYSE: GNS) had an outstanding performance on Thursday, with its stock soaring by an impressive 37%. However, the excitement didn’t end there as the company witnessed a further surge of 7% during the afterhours session, bringing its value tantalizingly close to the crucial $0.43 mark.

    A Strategic Merger Propels Growth

    This surge follows the completion of a significant merger by Genius Group, positioning itself as a formidable force in the realm of AI-driven education and acceleration. The merger involved the acquisition of FatBrain AI in an all-stock transaction, bolstering Genius Group’s AI software assets and customer base.

    With this strategic move, Genius Group anticipates a substantial increase in its 2023 pro forma revenue guidance, potentially reaching an estimated $76 million to $80 million, along with a notable rise in pro forma net profit guidance.

    The Vision for the Future

    Genius Group, together with FatBrain AI, envisions a future where AI and entrepreneurial skills are paramount. The amalgamation of their expertise paves the way for the realization of ‘Genius City,’ a concept aimed at fostering exponential growth through AI-driven education and peer intelligence solutions.

    This vision aligns with the global trend towards Sovereign AI ecosystems, where localized education platforms play a pivotal role in empowering individuals and institutions to thrive in the age of AI.

    Roger Hamilton, CEO of Genius Group, emphasized the increasing demand for AI skills worldwide, highlighting initiatives by countries like the UAE and Singapore to lead in this domain. The launch of the Genius City growth model marks a significant step towards democratizing AI education and accelerating the reach of Sovereign AI across diverse sectors and geographies.

    Conclusion

    With the completion of the merger and the imminent launch of the Genius City model, Genius Group is poised for transformative growth. The integration of Genius Group’s AI-driven Edtech platform with FatBrain AI’s peer intelligence solutions signifies a comprehensive approach to AI education and acceleration.

    As the company forges ahead with its ambitious plans, investors eagerly await the realization of its full potential, anticipating a wave of innovation and value creation in the burgeoning field of AI-driven education and acceleration.

  • Genius Group Ltd. (GNS) Slides Premarket After over 400% Debut Session Yesterday

    The online and offline education services provider, Genius Group Ltd. (GNS) made its public debut yesterday, April 12, 2022. Despite certain red flags regarding the IPO of the Singaporean EdTech company, the debut session marked a staggering increase of 408.33%. Thus, the stock closed its debut session on NYSE at $30.50 a share. Consequently, in today’s premarket, on April 13, the stock is under corrections. At the time of writing, the stock had slid down by 38.85% to reach $18.65 apiece.

    Source: The Economic Times

    GNS’ Initial Public Offering

    On April 12, the ordinary shares of the company commenced trading on the NYSE American under the symbol “GNS”.

    The initial public offering of the company consisted of 3,763,636 ordinary shares at a price of $6.00, including the over-allotment option.

    With Boustead Securities, LLC as the sole underwriter, the IPO resulted in gross proceeds of $22,581,816 for the company.

    IPO Revisions and Downsizing

    The company’s IPO is a bit questionable with many changes in the final launched IPO against its initial documents. GNS’ SEC filings reveal that the company was initially looking forward to launching an IPO of at least 7.3 million shares. Thus, the expected proceeds were in the range of $40 million. Moreover, the book runner was Think Equity. Following this, the company downsized its IPO by over 55% to 3.2 million shares for proceeds of just $18 million. But the final IPO included 3.7 million shares and resulted in proceeds of $22.6 million. Furthermore, the company also switched its underwriter from Think Equity to Boustead Securities.

    Questionable Debut Session

    Genius is not a well-established company with just over 2 million students in 200 countries. The company only has $24.2 million in 2020 pro forma revenues from four different lines of business, according to its prospectus. The company in itself is a mishmash hodgepodge of different things including an EdTech platform, a property investors network, entrepreneur resorts, and a small for-profit university in California among other assets.

    In addition to this, the downsized and small IPO of the company would have had investors staying away from the stock. But despite the red flags, the stock’s debut session was wild with gains, unlike anything one would have expected.

    Conclusion

    It seems short investors were trying to push the stock high enough to make some good gains by leveraging its small IPO price of $6. Hence, now the investors are taking profits as the stock has fallen under corrections and is probably on its way to its initial price levels.