German investor Angermayer to launch biotech SPAC in the U.S. -sources

Rocket Internet SE

17/02/2021 16:51

By Arno Schuetze and Nadine Schimroszik
    BERLIN, Feb 17 (Reuters) - German investor Christian
Angermayer is planning to list a blank-cheque company in New
York, embracing a trend that has seen a swathe of entrepreneurs
tapping into investor interest in new offerings pa, two people
close to the matter said.
    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.
    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
 UBER.N , Delivery Hero  DHER.DE , Alibaba  9988.HK  and Swipe,
they added.
    Angermayer's Aperion declined to comment while Falcon Edge
was not immediately available for comment.
    SPACs, so-called blank cheque companies, raise funds in an
initial public offering with the aim of buying a private firm.
The United States has seen a boom in SPAC listings, while there
have been relatively few in Europe. 
    German venture capitalist Klaus Hommels launched a blank
cheque company in Frankfurt on Wednesday through his firm
Lakestar, while former UniCredit boss Jean-Pierre Mustier
earlier this week teamed up with French tycoon Bernard Arnault
to launch a SPAC in Amsterdam.  urn:newsml:reuters.com:*:nL1N2KL0A8 urn:newsml:reuters.com:*:nL8N2KN52O
    Like Angermayer, other entrepreneurs have chosen to seek a
U.S. listing, including the SPAC of former Credit Suisse CEO
Tidjane Thiam and Egyptian billionaire Nassef Onsi Sawiris. 
    The founders of Berlin e-commerce pioneer Rocket Internet,
Oliver Samwer, and meal kit company Hellofresh  HFGG.DE ,
Dominik Richter, are also planning to list SPACs in New York.
 urn:newsml:reuters.com:*:nL8N2KF52J urn:newsml:reuters.com:*:nL8N2KM2FO
    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  SNSE.O , mental health care company
Compass Pathways  CMPS.O  and artificial intelligence-powered
drug discovery platform Abcellera  ABCL.O , all of which listed
in the U.S. in recent months.
    Credit Suisse is organising the IPO of Frontier Acquisition
Corp., the sources said, adding that David Sinclair and Peter
Attia, founders in the biotech and tech space will serve as
co-chairmen. Credit Suisse as not immediately available for
comment.
    

 (Editing by Emelia Sithole-Matarise)
 ((arno.schuetze@thomsonreuters.com; +49 30220133648;))