Form 8-K - Current report
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): July 21, 2023
GENESIS GROWTH TECH ACQUISITION CORP.
(Exact
name of registrant as specified in its charter)
Cayman Islands |
|
001-41138 |
|
98-1601264 |
(State
or other jurisdiction of
incorporation or organization) |
|
(Commission
File Number) |
|
(I.R.S.
Employer
Identification No.) |
Bahnhofstrasse 3
Hergiswil Nidwalden, Switzerland |
|
6052 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: +41 78 607 99 01
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
| ☐ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Units, each consisting of one Class A Ordinary Share, $0.0001 par value, and one-half of one redeemable warrant |
|
GGAAU |
|
The Nasdaq Stock Market LLC |
Class A Ordinary Shares included as part of the units |
|
GGAA |
|
The Nasdaq Stock Market LLC |
Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 |
|
GGAAW |
|
The Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2
of the Securities Exchange Act of 1934.
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01 Other Events.
As
previously reported, on July 14, 2023, Genesis Growth Tech Acquisition Corp. (the “Company”), received a written notice
from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company’s
securities (units, ordinary shares and warrants) would be suspended from The Nasdaq Global Market on July 25, 2023, due to the Company’s
non-compliance with Listing Rule 5452, and that unless the Company requested an appeal of this determination, trading of the Company’s
listed securities would be suspended from The Nasdaq Global Market on July 25, 2023, and a Form 25-NSE would be filed with the Securities
and Exchange Commission (the “SEC”), which would remove the Company’s securities from listing and registration on The
Nasdaq Stock Market.
On
July 21, 2023, the Company timely submitted an appeal of Nasdaq’s delisting determination to a Hearings Panel, pursuant to the
procedures set forth in the Nasdaq Listing Rule 5800 Series. The filing of the appeal stays the delisting of the Company’s securities
on Nasdaq. A hearing has been scheduled for September 14, 2023.
At
the panel hearing, the Company intends to present a plan to regain compliance with Rule 5452 and certain other Nasdaq deficiencies as
previously reported.
There
can be no assurance that the Company’s plan will be accepted by the hearings panel or that, if it is, the Company will be able
to regain compliance with the applicable Nasdaq listing requirements. If the Company’s securities are delisted from Nasdaq, it
could be more difficult to buy or sell the Company’s securities or to obtain accurate quotations, and the price of the Company’s
securities could suffer a material decline.
Furthermore,
as previously disclosed, on May 23, 2023, Nasdaq notified the Company that it did not comply with Listing Rule 5250(c), due to its failure
to timely file its Form 10-Q for the period ended March 31, 2023. On July 18, 2023, Nasdaq notified the Company that it was in compliance
with Rule 5250(c) as it had filed its Form 10-Q for the period ended March 31, 2023.
Separate
from the above, on July 13, 2023, Nasdaq determined to halt trading in the Company’s securities (the “Trading Halt”).
Nasdaq notified the Company that the Trading Halt would not be lifted by Nasdaq.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
GENESIS
GROWTH TECH ACQUISITION CORP. |
|
|
|
Date:
July 25, 2023 |
By: |
/s/
Eyal Perez |
|
Name: |
Eyal
Perez |
|
Title: |
Chief
Executive Officer,
Chief Financial Officer |
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Jul. 21, 2023 |
Document Type |
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Document Period End Date |
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|
Entity File Number |
001-41138
|
Entity Registrant Name |
GENESIS GROWTH TECH ACQUISITION CORP.
|
Entity Central Index Key |
0001865697
|
Entity Tax Identification Number |
98-1601264
|
Entity Incorporation, State or Country Code |
E9
|
Entity Address, Address Line One |
Bahnhofstrasse 3
|
Entity Address, City or Town |
Hergiswil Nidwalden
|
Entity Address, Country |
CH
|
Entity Address, Postal Zip Code |
6052
|
City Area Code |
+41
|
Local Phone Number |
78 607 99 01
|
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Pre-commencement Tender Offer |
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|
Pre-commencement Issuer Tender Offer |
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|
Entity Emerging Growth Company |
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|
Elected Not To Use the Extended Transition Period |
false
|
Units, each consisting of one Class A Ordinary Share, $0.0001 par value, and one-half of one redeemable warrant |
|
Title of 12(b) Security |
Units, each consisting of one Class A Ordinary Share, $0.0001 par value, and one-half of one redeemable warrant
|
Trading Symbol |
GGAAU
|
Security Exchange Name |
NASDAQ
|
Class A Ordinary Shares included as part of the units |
|
Title of 12(b) Security |
Class A Ordinary Shares included as part of the units
|
Trading Symbol |
GGAA
|
Security Exchange Name |
NASDAQ
|
Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 |
|
Title of 12(b) Security |
Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50
|
Trading Symbol |
GGAAW
|
Security Exchange Name |
NASDAQ
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