Genesis Park Acquisition Corp – the aviation-focused special purpose acquisition company (SPAC) or blank cheque company – has priced its $150 million initial public offering (IPO) of 15,000,000 units at a price of $10.00 per unit. The units are listed on the New York Stock Exchange and trade under the ticker symbol "GNPK.U".
Genesis Park is a new SPAC formed for the purpose of effecting a business combination with one or more businesses, focused on opportunities that align with the significant aerospace and aviation services experience of its management team, board of directors and advisory committee. The company is sponsored by Genesis Park Holdings, an affiliate of Genesis Park, a Houston-based private equity firm, and is led by David Siegel as Chairman, Paul Hobby as Chief Executive Officer, and Jonathan Baliff as President and Chief Financial Officer.
Jefferies is serving as the sole book-running manager for the offering. The company has granted the underwriter a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any.