Genesis Unicorn Capital Corp. Announces Closing of Initial Public Offering and Exercise of Full Over-Allotment Option
February 17 2022 - 4:05PM
via NewMediaWire -- Genesis Unicorn Capital Corp. (the
“Company”) announced today the closing of its initial public
offering of 7,500,000 units at $10.00 per unit (the “Offering”).
Each unit consists of one share of Class A common stock and one
warrant entitling the holder thereof to purchase one share of Class
A common stock at a price of $11.50 per share. The underwriters
exercised their over-allotment option in full for an additional
1,125,000 units on February 15, 2022, which closed at the time of
the closing of the Offering. As a result, the aggregate gross
proceeds of the Offering, including the over-allotment, are
$86,250,000, prior to deducting underwriting discounts,
commissions, and other Offering expenses.
The units have been listed on the Nasdaq Global
Market (“Nasdaq”) and began trading on February 15, 2022, under the
ticker symbol “GENQU”. Once the securities comprising the units
begin separate trading, the shares of Class A common stock and
warrants are expected to be listed on Nasdaq under the symbols
“GENQ” and “GENQW”, respectively.
The Company is a newly organized blank check
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. The
Company has not selected any specific business combination target
and has not, nor has anyone on its behalf, initiated any
substantive discussions, directly or indirectly, with any business
combination target. While the Company may pursue an initial
business combination target in any business or industry, it intends
to focus its search on the intersection of the healthcare and
technology industries, specifically within the biotechnology and
pharmaceutical sectors.
EF Hutton, division of Benchmark Investments,
LLC (“EF Hutton”), served as sole book-running manager for the
Offering. Becker & Poliakoff LLP served as legal counsel to the
Company. Hogan Lovells US LLP served as legal counsel to EF
Hutton.
The offering was made only by means of a
prospectus. Copies of the prospectus may be obtained from EF
Hutton, division of Benchmark Investments, LLC, 590 Madison Ave.,
39th Floor, New York, NY 10022, Attention: Syndicate Department, or
via email at syndicate@efhuttongroup.com or telephone at
(212) 404-7002.
The Securities and Exchange Commission (“SEC”)
declared effective a registration statement on Form S-1 relating to
these securities on February 14, 2022. A final prospectus relating
to this offering has been filed with the SEC. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy any of the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that
constitute "forward-looking statements," including with respect to
the Company's initial public offering and the anticipated use of
the net proceeds thereof. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company's registration statement and final prospectus for the
offering filed with the SEC. Copies are available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the
date of this release, except as required by law.
ContactGenesis Unicorn Capital Corp.281
Witherspoon Street, Suite 120Princeton, NJ, 08540Attn: Samuel
Luisamuel.lui@genesisunicorn.com(609) 466-0792
Genesis Unicorn Capital (NASDAQ:GENQ)
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