Genesis Growth Tech Acquisition in an 8-K said shareholders approved a deadline extension from Sept. 13 to Dec. 13, 2024. Redemptions were negligible (approximately 0.3%), according to the filing.
Genesis Growth’s trust was nearly obliterated by redemptions in March ahead of an earlier extension vote. Shareholders awarded the SPAC an extension from March 13 to Sept. 13, although redemptions wiped out 99.6% of the trust, which folowing that vote stood at just over $1 million.
The SPAC needs the extra time after mutually agreeing last month to terminate a deal with NextTrip, which specializes in using proprietary technology, analytics, and strategic partnerships to provide travel solutions in leisure, wellness, and business travel.
Genesis Growth Tech raised $220 million in a December 2021 IPO. Read more.
