New Frontier, a Chinese blank check company formed to acquire a healthcare, technology or education business, announced terms for its IPO on Monday.
The n/a, Hong Kong-based company plans to raise $200 million by offering 20 million units at a price of $10. At that price, New Frontier would command a market value of $295 million. Each unit consists of one share of common stock and one-half of one warrant redeemable at $11.50.
New Frontier was founded in 2018 and plans to list on the NYSE under the symbol NFC.U. Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal.
