Saul Ewing LLP represented Genesis Unicorn Capital, LLC, in its acquisition of and role as the sole sponsor for Genesis Unicorn Capital Corp. a special purpose acquisition company (SPAC), in the SPAC's $75 Million initial public offering (IPO) of 7,500,000 units at a price of $10.00 per unit. The units are listed on The Nasdaq Global Market (Nasdaq) and began trading on February 15, 2022, under the ticker symbol "GENQU". Each unit consists of one share of Class A common stock and one warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share.
Genesis Unicorn was joined by A SPAC I Acquisition Corp., which sold $60 Million IPO of 6,000,000 units at $10 each, for a combined $135 Million raised. A SPAC I units trade under the symbol "ASCA."
The announcement was made on February 14, 2022.
Saul Ewing LLP's team was led by Marc J. Adesso, Mark Gruhin and John E. Crozier, with support from David Shapiro in the firm's international tax practice.
Saul Ewing's SPAC Practice
Saul Ewing LLP is especially well-positioned to guide SPACs throughout their life cycle. Successful SPAC transactions require careful planning and execution, from formation, to IPO, the subsequent de-SPAC business combination, and then onto life as a public company. Our SPAC team leverages SEAL's elite capital markets, securities, public company, M&A, private equity, and tax capabilities to deliver seamlessly coordinated, full-service advice and representation to SPACs, their sponsors, underwriters, and M&A participants. We couple our SPAC advice with deep industry-specific knowledge to provide unparalleled insight, economically-focused counsel, and real world solutions to complex marketplace problems.
