BERLIN, Feb 17 (Reuters) - German investor Christian
Angermayer is planning to list a blank-cheque company in New
York, embracing a trend that has seen a swathe of entrepreneurs
tapping into investor interest in new offerings, two people
close to the matter said.
His Frontier Acquisition Corp., a special purpose
acquisition company (SPAC), is planning to sell shares worth
$200 million and will have a biotech focus, the sources said,
adding that an official filing could take place in the coming
days with a listing as early as March.
The SPAC is being sponsored by Angermayer's family fund
Apeiron Investment Group as well as by venture capital firm
Falcon Edge, known for investments in companies like Uber
, Delivery Hero, Alibaba and Swipe,
Angermayer's Apeiron declined to comment while Falcon Edge
was not immediately available for comment.
SPACs, so-called blank cheque companies, raise funds in an
initial public offering with the aim of buying a private firm.
The United States has seen a boom in SPAC listings, while there
have been relatively few in Europe.
German venture capitalist Klaus Hommels launched a blank
cheque company in Frankfurt on Wednesday through his firm
Lakestar, while former UniCredit boss Jean-Pierre Mustier
earlier this week teamed up with French tycoon Bernard Arnault
to launch a SPAC in Amsterdam.
Like Angermayer, other entrepreneurs have chosen to seek a
U.S. listing, including the SPAC of former Credit Suisse CEO
Tidjane Thiam and Egyptian billionaire Nassef Onsi Sawiris.
Oliver Samwer, the founder of German tech investment company
Rocket Internet, and meal kit delivery company Hellofresh
founder and Chief Executive Dominik Richter are also
planning to list SPACs in New York.
Angermayer is a serial entrepreneur, backing about 30
biotech companies including Atai Life Sciences, which is
developing anti-depression drugs from so-called magic mushrooms.
Angermayer was also an investor in immunotherapies firm
Sensei Biotherapeutics, mental health care company
Compass Pathways and artificial intelligence-powered
drug discovery platform Abcellera, all of which listed
in the United States in recent months.
Frontier Acquisition Corp., which will focus on the
intersection of data and life sciences, is planning to sell 20
million shares at $10 each, with an over-allotment option of 3
million additional shares, the sources said.
Credit Suisse is organising the IPO, the sources said,
adding that David Sinclair and Peter Attia, founders in the
biotech and tech space will serve as co-chairmen, while
Angermayer will serve as CEO and Falcon Edge founder Ryan Khoury
as President. Credit Suisse declined to comment.
(Editing by Emelia Sithole-Matarise)