Conyers has provided Cayman Islands legal advice to Genesis Growth Tech Acquisition Corp (Genesis), a Cayman Islands blank-cheque company, on its proposed business combination with Biolog-ID (Biolog). Biolog designs, deploys and supports integrated traceability solutions, including hardware, real-time data collection, visualization and data analysis, based on radio frequency identification, or RFID, technology, to handle sensitive health products.

Under the terms of the proposed merger, Genesis will merge with and into Biolog with Biolog as the surviving company which will ultimately be listed on Nasdaq. Genesis shareholders will receive the related Biolog ordinary share merger consideration in the form of American depositary shares.

The transaction, which is still subject to the satisfaction or waiver of a number of conditions, will reflect an equity value of US$312 million for Biolog with Genesis currently having approximately US$257.1 million in trust. The anticipated cash resources available to the combined company (after redemptions) will be used to advance Biolog value chain optimization platform for blood products and other biologics.

Partner Matthew Stocker, Counsel Alex Davies and Associate Matthew Harkness of Conyers’ Cayman office advised on the Cayman Islands legal and regulatory aspects of the transaction working alongside O’Melveny & Meyers LLP and Allen & Overy LLP as US and French legal advisor to Genesis.

Further details of the transaction are available on Global Newswire here.

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