Baltia Air Lines Inc. (fka BLTA)

[LongTimeObserver]

No $200M USGlobal SPAC for Baltia Tony Baloney?

"Aviation-focused SPAC Genesis Park files for $200M IPO

Monday, September 28, 2020 3:15 AM ET

By Karl Angelo Vidal
Market Intelligence

Genesis Park Acquisition Corp. filed for an IPO of 20.0 million units at a price of $10.00 apiece.

Each unit consists of 1 class A ordinary share and half of a redeemable warrant. Each whole warrant entitles the holder to buy 1 class A ordinary share at $11.50 per share. The underwriters were granted a 45-day overallotment option to buy up to 3.0 million additional units.

The blank check company, which was formed by Genesis Park LP, will focus on commercial passenger airlines, cargo airlines, business aviation operators and special mission operators with an enterprise value between $500 million and $1 billion.

Genesis Park Holdings, the company's sponsor, and the offering's underwriter agreed to buy 6.0 million warrants, or 6.6 million warrants upon full exercise of the overallotment option, for $1.00 per warrant.

The company applied to list its units on the New York Stock Exchange under the ticker GNPK.U. Once the units begin separate trading, the class A ordinary shares and warrants are expected to trade under the respective symbols GNPK and GNPK WS.

Jefferies LLC is acting as the sole bookrunning manager for the IPO."