Forbion European Acquisition, a blank check company formed by Forbion targeting the life sciences industry in Europe, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
The Wilmington, DE-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. Anchor investors intend to purchase 15% of units in the offering, and the company may raise an additional $20 million at the closing of an acquisition pursuant to forward purchase agreements with an affiliate of the sponsor. At the proposed deal size, Forbion European Acquisition would command a market value of $125 million.
The company is led by CEO and Director Jasper Bos, who joined Forbion Growth as a General Partner in May 2021, and CFO and Director Cyril Lesser, Senior Controller at Forbion. The company plans to leverage management's experience and target late-stage opportunities in the life sciences industry in Europe.
Forbion European Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol FRBNU. The company filed confidentially on September 3, 2021. UBS Investment Bank and Kempen are the joint bookrunners on the deal.
