Genius Group, a global provider of online and in-person entrepreneur education services, lowered the proposed deal size for its upcoming IPO on Friday.
The Singapore-based company now plans to raise $18 million by offering 3.3 million shares at a price range of $5 to $6. The company had previously filed to offer 7.3 million shares at the same range. At the revised deal size, Genius Group will raise -55% less in proceeds than previously anticipated and command a market value of $118 million.
Genius Group is an entrepreneur education technology company with approximately 1.9 million students in 191 countries spanning all age groups. The company aims to provide students with leadership, entrepreneurial and life skills, which is believes are necessary for success in today's market.
Genius Group was founded in 2015 and booked $9 million in revenue for the 12 months ended June 30, 2021. It plans to list on the NYSE American under the symbol GNS. Boustead Securities is the sole bookrunner on the deal.
