Frontier Acquisition Corp. Announces Closing of $230 Million Initial Public Offering
March 15 2021 - 3:30PM
Business Wire
Frontier Acquisition Corp. (the “Company”), a special purpose
acquisition company formed for the purpose of entering into a
combination with one or more businesses, today announced that it
closed its initial public offering of 23,000,000 units at a price
of $10.00 per unit, which includes the exercise in full by the
underwriters of their option to purchase an additional 3,000,000
units. Total gross proceeds from the offering are $230,000,000,
before deducing underwriting discounts and commissions and other
offering expenses. Each unit consists of one Class A ordinary share
of the Company and one-fourth of one redeemable warrant. Each whole
warrant entitles the holder thereof to purchase one Class A
ordinary share of the Company at a price of $11.50 per share. The
units are listed on the Nasdaq Capital Market under the symbol
“FRONU.” Once the securities comprising the units begin separate
trading, the Class A ordinary shares and warrants are expected to
be listed on the Nasdaq Capital Market under the symbols “FRON” and
“FRONW,” respectively.
Frontier Acquisition Corp., sponsored by an affiliate of Falcon
Edge Capital and Apeiron Investment Group, is led by Chief
Executive Officer Christian Angermayer, Co-Presidents Rick Gerson
and Ryan Khoury and Co-Chairmen of the board David A. Sinclair and
Peter Attia and director Jonathan Christodoro. The Company intends
to leverage its leadership team’s experiences to create significant
long-term value for the Company’s shareholders. The team’s
experiences include: Christian Angermayer as founder of Apeiron
Investment Group, Peter Attia as a practicing physician focusing on
the applied science of longevity and co-founder and chief medical
officer of the fasting app Zero, and David A. Sinclair as Professor
of Genetics at Harvard Medical School and co-founder of several
biotechnology companies. While the Company intends to pursue
opportunities at the intersection of the healthcare and technology
industries, the Company will not be limited to a particular
industry or geographic region in its identification and acquisition
of a target company.
Credit Suisse Securities (USA) LLC and Berenberg Capital Markets
LLC served as the underwriters for the offering.
The offering is being made only by means of a prospectus. Copies
of the prospectus may be obtained from: Credit Suisse Securities
(USA) LLC, c/o Credit Suisse Securities (USA) LLC, Attn: Prospectus
Department, 6933 Louis Stephens Drive, Morrisville, North Carolina
27560, Telephone: 1-800-221-1037, Email:
usa.prospectus@credit-suisse.com.
A registration statement relating to the securities became
effective on March 10, 2021. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
anticipated use of the net proceeds. No assurance can be given that
the net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and preliminary prospectus for the Company's offering
filed with the Securities and Exchange Commission (“SEC”). Copies
are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210315005774/en/
For Investors: David Hilbert, Head of Business Development Tel:
(212) 803-9080 Email: dhilbert@falconedgecap.com
For Media: Jonathan Gasthalter/Nathaniel Garnick Gasthalter
& Co. (212) 257-4170
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