Frontier Investment registered with the SEC to offer 25 million units at $10 each. A unit consists of one Class A ordinary share and one-third of one redeemable warrant, with whole warrants exercisable for a share at $11.50.
JP Morgan is sole book-running manager for the offering. The underwriters have a 45-day option to purchase up to 3.75 million additional units to cover any over-allotments.
Sponsor Frontier Disruption Capital has agreed to purchase up to 7.875 million warrants at $1 per warrant in a private placement to occur concurrently with the closing of the offering.
The new SPAC said it will focus on the technology, digital media, e-commerce, financial technology, or digital services sectors.
Frontier Investment is led by CEO Asar Mashkoor, who from 2014 to March 2021 was head of corporate finance at Emirates NBD Capital in the UAE.
The SPAC intends to apply for a Nasdaq listing under FICVU. Read more.
