Genesis Growth Tech Acquisition Shares Down 33% After Closing At All-Time High

Dow Jones

Feb 25, 2023

By Dia Gill

Genesis Growth Tech Acquisition Corp. shares were down 33% to $11.98 at midday trading Friday after hitting its highest close ever at $17.05, according to FactSet.

The company's stock has increased 14% since the start of the year and about 20% in the last year.

The company filed a Form 8-K on Wednesday with shareholder approval of various article amendments, including allowing the company to extend the deadline for completing business combinations from March 13 to Sept. 13.

Genesis Growth Tech Acquisition is a blank-check company that operates to effect merges, share exchanges, asset acquisitions, share purchases, or reorganization with other businesses.

Write to Dia Gill at dia.gill@wsj.com

(END) Dow Jones Newswires

February 24, 2023 13:14 ET (18:14 GMT)

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