Genesis Unicorn Capital Corp IPO: All you need to know - Kalkine Media

February 15, 2022 09:03 AM PST | By Rupam Roy
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  • Genesis Unicorn will likely debut in the US stock market on February 15.

  • It is offering 7.5 million units at US$10 per share in the IPO.

  • Each unit comprises one Class A common stock share and one warrant. 

Blank-check company Genesis Unicorn Capital Corp (GENQ) is scheduled to debut on Tuesday in the US stock market. The company announced the IPO pricing on February 14.

It is offering 7.5 million units at US$10 per share in the IPO, taking the total to US$75 million.

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Each unit comprises one Class A common stock share and one warrant. Each whole warrant would entitle the holder to purchase one Class A ordinary share at US$11.50 per unit.

In addition, the underwriters will get a 45-day buy option for an additional 1.125 million units at the IPO price to cover over-allotments if any.

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The Class A common stock and the warrants will trade under the symbols GENQ and GENQW, respectively. The offering will likely close on Thursday, February 17.

The sole book-running manager is EF Hutton, a division of Benchmark Investments, LLC.

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Genesis Unicorn Capital Corp. is all set to make its debut in the US market on Tuesday

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Genesis Unicorn Capital Corp: Financials

For the period from February 23, 2021, to September 30, 2021, the company reported a net loss of US$16,778. The net cash provided by financing activities was US$25,000.

As of September 30, 2021, it had US$9,830 in cash, and its total assets were worth US$117,200.

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Genesis Unicorn is a newly formed special purpose acquisition company (SPAC) to effect a merger, asset acquisition, or business combination with one or more businesses. Although the firm may target to pursue an initial combination with any industry or sector, it primarily focuses on biotech, pharmaceutical, and technology companies.


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