Genesis Unicorn Capital Corp. announced a private placement of 346,175 placement units at a price of $10.00 per unit, for an aggregate purchase price of $3,461,750 on May 3, 2021. The company will issue 379,925 placement units for proceeds of $3,799,250 if the over-allotment option is exercised in full.

Each placement unit consists of one share of company's Class A common stock and one redeemable warrant to purchase one-half of one Class A common stock share. Each warrant entitles the holder thereof to purchase one-half of one full share of company's Class A common stock, and holders of two warrants may exercise those warrants to purchase one full share of company's Class A common stock at a price of $11.50 per share. The warrants will become exercisable on the later of: 30 days after the completion of company's initial business combination, and 18 months from the closing of the public offering.

The transaction will close simultaneously with the closing of the public offering. The warrants will expire at 5:00 p.m., New York City time, five years after the completion of company's initial business combination or earlier upon redemption or liquidation. The transaction will include participation from returning Genesis Unicorn Capital, LLC.