The Growth Acquisition Corporation (“G-Corp™”) is a publicly traded acquisition corporation designed to enable private, mid-market growth companies to access capital and go public with substantially reduced risks.
Investors in a G-Corp™ are provided with the opportunity to invest in an experienced management team seeking to acquire or merge with high-potential growth companies, while benefitting from thoughtful investor protection mechanisms.
Other similar listed vehicles fail to address the unique mid-market growth company opportunity and, in the case of a Capital Pool Company (“CPC”), may expose investors to significant risks.
Cboe Canada’s existing SPAC program has informed the structure of the G-Corp, ensuring a rigorous process and investor protection to enable quality transactions, but designed specifically for mid-market growth companies.
G-Corp™ Key Features
- A minimum IPO of at least $2,000,000, 100% of which must be held in escrow
- Founders’ equity ownership in the G-Corp of not more than 20% immediately following the closing of the IPO excluding any securities purchased at or prior to the closing of the IPO at not less than the IPO price
- A minimum investment by the founders, ensuring at least $300,000 of free working capital
- A Qualifying Transaction (“QT”) identified within 24 months, completed within 27 months
- A resulting issuer that has a market capitalization of at least $30,000,000 and meets initial listing standards (senior issuer) for the NEO Exchange
- A prospectus in connection with the IPO and QT
- No redemption feature at the time of the QT, but the QT is subject to shareholder approval, excluding any holders of non-IPO securities
- In the event the G-Corp fails to complete a QT within the permitted time, the escrowed funds will be returned to the investors on a pro rata basis