Genesis Growth Tech Acquisition Corp. (GGAA) is a SPAC — a blank check company with no operations of its own — incorporated in the Cayman Islands. Its sole purpose is to identify and merge with a private operating business, taking that business public. GGAA raised roughly $253M in its IPO in December 2021, with proceeds held in trust pending an acquisition. GGAA originally targeted technology companies in Consumer Internet — online marketplaces, digital classifieds, and consumer-facing proptech and fintech — with a geographic focus on Europe, Israel, the UAE, and the U.S. GGAA's situation has deteriorated sharply since its IPO: roughly 99.6% of public shareholders redeemed their shares in February 2023, withdrawing approximately $263M from trust, and Nasdaq delisted GGAA's securities in November 2023. A planned merger with NextTrip Holdings, a Florida-based travel company, was terminated in August 2023. GGAA subsequently pivoted, entering into an agreement to acquire a patent portfolio from MindMaze Group, a Swiss company, for $21M — a significant departure from its original mandate. GGAA must complete a business combination by December 13, 2024 or liquidate. The SPAC business model centers on the sponsor "promote," where the Sponsor acquires founder shares at nominal cost that convert into public shares upon deal close, generating significant returns if the transaction closes at or above the IPO price.