SPAC Genesis Growth, Biolog-ID terminate merger deal
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Swiss SPAC Genesis Growth Tech Acquisition Corp. (NASDAQ:GGAA) and health products tracing provider Biolog-ID have mutually terminated their merger agreement.
Genesis Growth announced the termination in a filing. The companies had agreed to merge in September, with the deal valuing Biolog-ID at around $312M.
Based in Bernay, France, Biolog-id designs, deploys and supports RFID-based tracing systems for blood products and other biologics.
Genesis Growth held its initial public offering in December, raising $220M.