NextTrip Holdings, Inc. entered into a definitive Agreement and Plan of Merger to acquire Genesis Growth Tech Acquisition Corp. in a reverse merger transaction.

NextTrip Holdings, Inc. entered into a definitive Agreement and Plan of Merger to acquire Genesis Growth Tech Acquisition Corp. (NasdaqGM:GGAA) in a reverse merger transaction on May 22, 2023. Existing shareholders of NextTrip will exchange 100% of their equity holdings for equity in the SPAC in connection with the merger. As of the closing, the surviving entity, under the name NextTrip Holdings, Inc., is expected to be listed on the Nasdaq Global Market. The agreement has been approved by the Boards of Directors of both NextTrip and Genesis, is expected to close during the second half of 2023, subject to the approval of the shareholders of GGAA, regulatory approval, and other customary closing conditions. As of July 14, 2023, Genesis Growth Tech Acquisition Corp. received a notice from Nasdaq stating that it failed to meet the minimum market value requirements i.e. below $50 million, resulting in the delisting of its securities.

Lewis Brisbois Bisgaard & Smith LLP acted as legal advisor to NextTrip Holdings, Inc. Lehrer Financial & Economic Advisory Services acted as fairness opinion provider to NextTrip Holdings, Inc.