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

February 15, 2022 09:03 AM PST | By Rupam Roy
Follow us on Google News:

Highlights

  • 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.

Also Read: On 20th anniversary, PayPal (PYPL) caps era of growth, sets new goals

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.

Also Read: From AMZN to DLTR: Will these stocks bring cheer to subdued market?

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.

Also Read: What made Wallbox (WBX), Cue Health (HLTH), Polestar pop on Monday?

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

Also Read: AMD finalizes US$50-billion Xilinx purchase in industry’s biggest deal

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.

Also Read: Why BioDelivery Sciences (BDSI) stock soared 51% today?

Bottomline

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.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.



Top Listed Companies