Genesis Growth Tech Acquisition in an 8-K said it entered into a business combination agreement with digital therapeutics firm Mind Maze for $21 million.
Founded in 2012, MindMaze is engaged in brain technology with a mission to accelerate humanity’s ability to recover, learn and adapt. With over a decade of work at the intersection of neuroscience, biosensing, engineering, mixed reality and artificial intelligence, the company on its website says it has enhanced the recovery potential of patients with neurological diseases.
Genesis Sponsor is the sponsor of Genesis Growth Tech and currently owns 6,325,000 Class B ordinary shares of Genesis SPAC, representing approximately 98.7% of the outstanding ordinary shares of Genesis SPAC, and 8,875,000 warrants to purchase 8,875,000 Class A ordinary shares at $11.50 per share.
The SPAC’s shareholders in September approved a deadline extension to Dec. 13, 2024. Redemptions were negligible.
Genesis Growth’s trust was nearly obliterated by redemptions back in March ahead of an earlier extension vote.
Then, in August, the SPAC mutually terminated a deal with NextTrip.
Genesis Growth Tech had raised $220 million in a December 2021 IPO. Read more.
