Brief: Biolog-Id And Genesis Growth Tech Acquisition Corp Execute MoU For Proposed Merger
23/08/2022 14:39
Aug 23 (Reuters) - Genesis Growth Tech Acquisition Corp
GGAA.O :
* BIOLOG-ID AND GENESIS GROWTH TECH ACQUISITION CORP.
ANNOUNCE
EXECUTION OF MEMORANDUM OF UNDERSTANDING FOR A PROPOSED MERGER
* GENESIS GROWTH TECH ACQUISITION CORP - TRANSACTION
REFLECTS AN
EQUITY VALUE OF $312 MILLION FOR BIOLOG-ID
* GENESIS GROWTH TECH ACQUISITION CORP - MOU CONTAINS
CERTAIN
TERMINATION RIGHTS FOR EACH OF BIOLOG-ID AND GGAA
* GENESIS GROWTH TECH - GGAA SHAREHOLDERS WILL RECEIVE
RELATED
BIOLOG-ID ORDINARY SHARE MERGER CONSIDERATION IN FORM OF
AMERICAN DEPOSITARY SHARES
* GENESIS GROWTH TECH ACQUISITION CORP - COMBINED CO WILL
CONTINUE TO OPERATE AS “BIOLOG-ID”, SEES ADSS TO BE LISTED ON
NASDAQ UNDER TICKER SYMBOL BGID
* GENESIS GROWTH TECH - BOARDS OF DIRECTORS OF BOTH
BIOLOG-ID AND
GENESIS HAVE UNANIMOUSLY APPROVED THE MOU
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