German investor Christian Angermayer is planning to list a blank-cheque company in New York. His Frontier Acquisition Corp., a special purpose acquisition company (SPAC), is planning to sell shares worth $200 million and will have a biotech focus, the sources said, adding that an official filing could take place in the coming days with a listing as early as March. SPACs, so-called blank cheque companies, raise funds in an initial public offering with the aim of buying a private firm. And while the United States has seen a boom in SPAC listings, while there have been relatively few in Europe.
The SPAC is being sponsored by Angermayer’s family office Apeiron Investment Group as well as by venture capital firm Falcon Edge, known for investments in companies like Uber, Delivery Hero, Alibaba and Swipe, they added.
Angermayer is a serial entrepreneur, backing about 30 biotech companies including Atai Life Sciences, which is developing anti-depression drugs from so-called magic mushrooms.
Angermayer was also an investor in immunotherapies firm Sensei Biotherapeutics, mental health care company Compass Pathways and artificial intelligence-powered drug discovery platform Abcellera, all of which listed in the U.S. in recent months.
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