Genesis Park GNPK.U = 1C + 1/2W
1W + $11.50. Call $18.
Term 18 months.
IPO Trust = $10.15 + Interest. $152,750,000 ($10.15 per unit) placed into US trust account at J.P. Morgan Chase Bank, with Continental Stock Transfer & Trust Company as trustee.
Closed on November 23, 2020.
Our Business Strategy and Targeted Industries
We believe that we are well-positioned to identify attractive initial business combination opportunities in the global aerospace and aviation services industries
-The aerospace and aviation services industries have demonstrated a long track record of consistent growth
-Our strategy is to acquire a leading market participant that has room to grow through commercial and operational improvements and further acquisitions as the overall aerospace and aviation services industries recover
David N. Siegel will serve as Chairman of our board of directors as of the effective date of the registration statement of which this prospectus forms a part. Mr. Siegel has 30 years of experience in the aerospace and aviation industries and possesses deep relationships across the entire aerospace supply chain. He currently serves as Executive Chairman of Sun Country Airlines, an ultra-low-cost carrier (“ULCC”), which he joined in April 2018, and as Chairman of Volotea, a Spanish low-cost airline, which he joined in April 2018. Since October 2017, Mr. Siegel has acted as a Senior Advisor for Apollo Global Management Inc. (“Apollo”) and in that capacity assisted Apollo in the acquisition of portfolio companies Sun Country Airlines and Volotea. From April 2016 to September 2017, Mr. Siegel served as Chief Executive Officer of aircraft leasing company AWAS. During his time as CEO, Mr. Siegel demonstrated his ability to effectively run global operations by managing $8.4 billion in total assets through AWAS’s committed fleet of 261 aircraft across 45 countries. Prior to joining AWAS, Mr. Siegel served as Chief Executive Officer for a number of operators, including Frontier Airlines from 2012 to 2015, XOJET from 2008 to 2010 and US Airways Group, Inc. (formerly NYSE: LCC) (“US Airways”) from 2002 to 2004. At the helm of Frontier Airlines, Mr. Siegel successfully transitioned the airline to become a profitable ULCC in 2014. Prior to running Frontier Airlines, Mr. Siegel was Co-Chairman and CEO of XOJET, where he launched fixed coast-to-coast pricing options that solidified the company’s position as a key player in the transcontinental charter market. In June 2004, Mr. Siegel became the Chairman and Chief Executive Officer of Gate Gourmet Group Inc., the world’s largest independent airline catering and logistics provider. Prior to his departure in December 2008, Mr. Siegel guided the company through an operational and financial restructuring that tripled the enterprise value. Additionally, Mr. Siegel implemented a strategic mergers and acquisitions growth strategy that created a portfolio of eleven companies, operating under the umbrella brand Gategroup, which specialized in in-flight products and services. After being asked to join US Airways Group as Chief Executive Officer in March 2002, Mr. Siegel successfully guided the company through bankruptcy and returned it to profitability in 2003.
Paul W. Hobby will serve as Chief Executive Officer and Director as of the effective date of the registration statement of which this prospectus forms a part. He is a Founding Partner at Genesis Park LP, a Houston-based private equity firm specializing in growth businesses, distressed situations and public company carveouts. Mr. Hobby maintains extensive relationships with industry-leading aviation executives, private equity firms, family offices and privately owned businesses across the aerospace and aviation sectors. Additionally, he has over 20 years of sourcing experience focused on alignment and partnership with management teams and shareholders.
Jonathan E. Baliff will serve as President, Chief Financial Officer and Director as of the effective date of the registration statement of which this prospectus forms a part. He has been a leader in the aviation and infrastructure sector for over 25 years, acting as a public company senior executive in addition to an investment and commercial banker. Most recently, Mr. Baliff was at Bristow Group (formerly NYSE:BRS) (“Bristow”), the world’s largest commercial helicopter and industrial aviation company serving the energy and government sectors, where he served first as Chief Financial Officer from 2010 to 2014 and President and Chief Executive Officer from 2014 to 2018.