Brief: Biolog-Id And Genesis Growth Tech Acquisition Corp Announce Execution Of Business Combination Agreement For Proposed Merger
08/09/2022 06:06
Sept 8 (Reuters) - Genesis Growth Tech Acquisition Corp
GGAA.O :
* BIOLOG-ID AND GENESIS GROWTH TECH ACQUISITION CORP.
ANNOUNCE
EXECUTION OF BUSINESS COMBINATION AGREEMENT FOR PROPOSED MERGER
TO CREATE PUBLICLY LISTED DIGITAL HEALTH SOLUTIONS COMPANY
FOCUSED ON VALUE CHAIN OPTIMIZATION
* GENESIS GROWTH TECH ACQUISITION -TRANSACTION REFLECTS
EQUITY
VALUE OF $312 MILLION FOR BIOLOG-ID WITH GGAA CURRENTLY HAVING
ABOUT $257.1 MILLION IN TRUST
* UPON CLOSING OF TRANSACTION, COMBINED COMPANY WILL
CONTINUE TO
OPERATE UNDER NAME "BIOLOG-ID"
* SAYS GGAA SHAREHOLDERS WILL RECEIVE RELATED BIOLOG-ID
ORDINARY
SHARE MERGER CONSIDERATION IN FORM OF ADS
* COMBINED COMPANY ADS ARE EXPECTED TO BE LISTED ON NASDAQ
UNDER
NEW TICKER SYMBOL "BGID"
Source text for Eikon: ID:nGNX71Hgny
Further company coverage: GGAA.O
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