Frontier Investment, a blank check company formed by FIM Partners targeting "new economy" sectors, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Wilmington, DE-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Frontier Investment would command a market value of $313 million.
The company is led by CEO and Chairman Asar Mashkoor, who recently joined FIM Partners and currently serves as Managing Director of Private Investments, primarily to lead the firm's SPAC initiative. FIM Partners founder and CIO Hedi Ben Mlouka serves as an Investment Principal. The company plans to target the technology, digital media, e-commerce, financial technology, or digital services sectors ("new economy sectors") across Middle East North Africa & Turkey, Sub-Saharan Africa, South Asia, and Southeast Asia.
Frontier Investment was founded in 2021 and plans to list on the Nasdaq under the symbol FICVU. The company filed confidentially on April 21, 2021. J.P. Morgan is the sole bookrunner on the deal.
