Genesis Unicorn Capital Files Registration Statement for $75 Million IPO
Genesis Unicorn Capital Corp. (GENQ) filed an amended registration statement with the US Securities and Exchange Commission for the initial public offering of 7.5 million units at $10 per unit for total expected gross proceeds of $75 million.
The special purpose acquisition company initially filed for a $100 million IPO.
Each unit consists of one share of class A share, and three-fourths of a warrant to purchase one class A share at a price of $11.50. The underwriters have been granted a 45-day option to buy up to about 1.1 million additional units.
Meanwhile, Genesis Capital, the blank check firm's sponsor, has agreed to buy about $3.2 million worth units, or $3.6 million units if the underwriters exercised their over-allotment option in full, in a separate private placement.
The units will debut on the Nasdaq Global Market under the ticker "GENQU." The underlying securities will eventually trade under the symbols "GENQ" and "GENQW" for stock and warrants, respectively.