Frontier Acquisition, a blank check company targeting the biotechnology sector, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Frontier Acquisition will command a market value of $256 million.
The company is led by Co-President and Director Rick Gerson, who is the Founder, Chief Investment Officer, and Chairman of Falcon Edge Capital. He is joined by CEO and Director Christian Angermayer, who is the Founder of Presight Capital and Apeiron Investment Group. Frontier Acquisition intends to capitalize on management's ability to identify promising opportunities at the intersection of the healthcare and technology industries, specifically within the biotechnology sector.
Frontier Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol FRONU. Credit Suisse is the sole bookrunner on the deal.
