Genesis Unicorn Capital registered with the SEC to offer 10 million units at $10 each. A unit consists of one share of Class A common stock and one-half of one redeemable warrant; whole warrants exerciable at $11.50.
The new SPAC intends to target the biotechnology and pharmaceutical sectors, specifically middle market and emerging growth businesses operating with a total enterprise value from $200 million to $1 billion.
Genesis Unicorn Capital is led by CEO Juan Fernandez, who most recently served as general manager of Chassis Brakes International Spain, part of Hitachi Automotive Systems. Fernandez is an adviser to another SPAC, Benessere Capital Acquisition, which completed its $101.5 million IPO in January.
EF Hutton is sole book-runner on the Genesis Unicorn Capital offering. The underwriters have a 45-day option to purchase up to an additional 1.5 million units to cover over-allotments, if any.
The SPAC plans to apply for a Nasdaq listing under GENQU. Read more.
