German investor Angermayer’s SPAC to file for $200 million US IPO on March

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German investor Angermayer’s SPAC to file for $200 million US IPO on March

Christian Angermayer, 42, a German investor, entrepreneur and film enthusiast having had a net asset worth of $700 million, has been reportedly mulling an option to list an SPAC (Special Purpose Acquistion Company) in New York Stock Exchange, embarking on a trend what had been embraced by a swathe of tech start-ups to take their companies public last year, a local newspaper report published earlier in the day had unveiled citing unnamed sources given the scale of sensitivity of the issue.

On top of that, apart from the local media toplines, a press agency report published late in the day had quoted at least two sources familiar with the subject-matter as saying that Frontier Acquisition Corp., an SPAC backed by Angermayer, the founder of Apeiron Investment Group, had been exploring an option to an initial offerings in NYSE with targets to sell shares worth of $200 million, while Angermayer’s Frontier Acquisition Corp.

would have a primary focus on acquiring a bio-tech firm, added the sources.

German investor Angermayer to launch biotech SPAC in the US

Aside from that, while the sources had also added that an official filing with US SEC (Securities and Exchange Commission) for an initial offering of Angermayer-backed SPAC could take place as early as by March this year, the SPAC would be sponsored by the German investor’s family fund Apeiron Investment Group, which primarily focuses on shelving stakes in financials, deep-techs, life sciences, real estates, media and entertainment alongside prop-tech, alongside a venture capital firm Falcon Edge, widely known for its stakes in tech conglomerates likes of Alibaba, Swipe, Delivery Hero and Uber.

SPACs or Special Purpose Acquisition Companies are shell entities that usually capitalized on taking a company public following a merger or acquisition, while the SPACs or blank-check firms are allowed to raise funds through an IPO to finance the merger or acquisition without telling their investors about the company it has been pursuing.