SPAC Daily: Merger Deal for Genesis Growth Tech Acquisition

by | Aug 23, 2022

Genesis Growth Tech Acquisition (GGAA) this morning announced a memorandum of understanding for a merger with French digital health solution provider Biolog-id, for an equity value at $312M. It’s the first to be announced this week and just the third over the last two weeks as seemingly an already sleepy merger market is taking a break until post labor day. GGAA was mum on transaction details.

Even with the slowdown in the last two weeks, the hot beginning of August still has surpassed June and July for number of deals announced.

Source: Boardroom Alpha

Elsewhere in SPACs

  • Endurance Acquisition Corp. (EDNC) and Satixfy lowered the equity valuation of their DA by 55% from $813M to $365M and waiving its min cash condition
  • Shake up at SoftBank’s SPACs as Rajeev Misra stepped down as CEO at SVFA and Munish Varma relinquished the CEO role at SVFA, Navneet Govil will take on the CEO role at both
  • Mana Capital Acquisition Corp. (MAAQ) is using the first of its 12 1-month extensions, will add $0.033 per share to the trust to bring NAV to $10.033 out till September

Upcoming SPAC Events

Today’s SPAC Movers

Biggest SPAC Gainers

7.58% ~ $ 10.79 | RENE – Cartesian Growth Corp II (Pre-Deal)
7.11% ~ $ 11.00 | RAM – Aries I Acquisition Corp (Announced)
2.39% ~ $ 10.27 | RVAC – Riverview Acquisition Corp. (Announced)
2.19% ~ $ 9.33 | NLIT – Northern Lights Acquisition Corp. (Announced)
1.63% ~ $ 10.00 | SLCR – Silver Crest Acquisition Corporation (Announced)
1.59% ~ $ 10.20 | FEXD – Fintech Ecosystem Development Corp. (Pre-Deal)
1.46% ~ $ 10.05 | AMCI – AMCI Acquisition Corp. II (Announced)
1.30% ~ $ 10.14 | FNVT – Finnovate Acquisition Corp. (Pre-Deal)
1.29% ~ $ 10.22 | SPCM – Sound Point Acquisition Corp I, Ltd (Pre-Deal)
1.20% ~ $ 30.31 | DWAC – Digital World Acquisition Corp. (Announced)
1.20% ~ $ 10.12 | DECA – Denali Capital Acquisition Corp. (Pre-Deal)
.90% ~ $ 10.06 | BPAC – Bullpen Parlay Acquisition Co (Pre-Deal)
.80% ~ $ 10.08 | SHUA – SHUAA Partners Acquisition Corp I (Pre-Deal)
.80% ~ $ 10.14 | CFVI – CF Acquisition Corp. VI (Announced)
.71% ~ $ 9.93 | NFNT – Infinite Acquisition Corp. (Pre-Deal)
.70% ~ $ 10.13 | VSAC – VISION SENSING ACQUISITION CORP. (Pre-Deal)
.68% ~ $ 10.33 | CLAQ – cleantech Acquisition Corp. (Announced)
.62% ~ $ 9.77 | TPBA – TPB Acquisition Corporation I (Pre-Deal)
.61% ~ $ 9.89 | IPVI – InterPrivate IV InfraTech Partners Inc. (Pre-Deal)
.60% ~ $ 10.07 | OLIT – OmniLit Acquisition Corp. (Pre-Deal)

Biggest SPAC Losers

-.71% ~ $ 9.73 | SEDA – SDCL EDGE Acquisition Corp (Pre-Deal)
-.69% ~ $ 10.02 | SHAP – Spree Acquisition Corp. 1 Ltd (Pre-Deal)
-.59% ~ $ 10.10 | AMAO – American Acquisition Opportunity Inc (Announced)
-.50% ~ $ 9.89 | HPX – HPX Corp (Announced)
-.48% ~ $ 10.33 | VHAQ – Viveon Health Acquisition Corp. (Announced)
-.46% ~ $ 9.78 | DNAD – Social Capital Suvretta Holdings Corp. IV (Pre-Deal)
-.39% ~ $ 10.17 | AEHA – Aesther Healthcare Acquisition Corp. (Pre-Deal)
-.39% ~ $ 10.31 | ESSC – East Stone Acquisition Corporation (Announced)
-.36% ~ $ 9.81 | EMLD – FTAC Emerald Acquisition Corp. (Pre-Deal)
-.35% ~ $ 9.94 | COOL – Corner Growth Acquisition Corp. (Pre-Deal)
-.34% ~ $ 10.34 | VENA – Venus Acquisition Corporation (Announced)
-.30% ~ $ 9.82 | RACB – Research Alliance Corp. II (Pre-Deal)
-.30% ~ $ 9.85 | ASAX – Astrea Acquisition Corp. (Pre-Deal)
-.30% ~ $ 9.86 | WPCB – Warburg Pincus Capital Corporation I—B (Pre-Deal)
-.30% ~ $ 9.86 | WPCA – Warburg Pincus Capital Corporation I—A (Pre-Deal)
-.30% ~ $ 9.88 | ZING – FTAC Zeus Acquisition Corp. (Pre-Deal)
-.30% ~ $ 9.94 | ADRA – Adara Acquisition Corp. (Announced)
-.30% ~ $ 9.94 | UTAA – UTA Acquisition Corporation (Pre-Deal)
-.30% ~ $ 10.05 | ERES – East Resources Acquisition Company (Pre-Deal)
-.30% ~ $ 10.05 | LJAQ – LIGHTJUMP ACQUISITION CORPORATION (Announced)

<a href="https://www.boardroomalpha.com/author/draps/" target="_self">David Drapkin</a>

David Drapkin

Spent his formative years at Goldman Sachs and now embraces the start-up life in NYC. A long suffering Oakland (Las Vegas) Raiders fan and graduate of the Wharton School at the University of Pennsylvania. Semi-professional go-kart racer waiting for his shot.

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