Frontier Investment, a blank check company formed by FIM Partners targeting "new economy" sectors, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
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 plans to list on the Nasdaq under the symbol FICVU. J.P. Morgan acted as sole bookrunner on the deal.
