GGAAU Stock Price, News & Analysis

Genesis Growth Tech Acquisition Corp. (Nasdaq: GGAA) has received a notification from Nasdaq regarding its non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Annual Report on Form 10-K for the year ended December 31, 2022.

The notification does not affect the current listing of the company's units, common stock, or warrants on the Nasdaq Global Market. GGAA has a 60-day window, until June 20, 2023, to submit a compliance plan. If accepted, Nasdaq may grant an extension of up to 180 days, or until October 16, 2023, to rectify the compliance issue. In case of rejection, GGAA may appeal the decision to a Hearing Panel.

Genesis Growth Tech Acquisition Corp. (Nasdaq: GGAAU) announced that holders of its units can now separately trade Class A ordinary shares and warrants starting January 31, 2022. The separated shares will trade under symbols GGAA and GGAAW, while any units not separated will continue under GGAAU. The initial units were offered in an underwritten offering led by Nomura Securities International, Inc. A registration statement for the units was effective as of December 8, 2021. This communication is not an offer to sell or buy securities in any unlawful jurisdiction.

Genesis Growth Tech Acquisition Corp. priced its upsized initial public offering of 22,000,000 units at $10.00 each. The offering includes a 45-day option for underwriters to purchase an additional 3,300,000 units. Trading is set to begin on December 9, 2021 on Nasdaq under the symbol "GGAAU." Each unit contains one Class A ordinary share and one-half redeemable warrant, with whole warrants priced at $11.50 per share. The Company, formed by Genesis Growth Tech LLC, plans to target high-growth technology businesses primarily in Europe, Israel, the UAE, and the US.