Frontier Acquisition $230 million IPO
Davis Polk advised the underwriters, in connection with the initial public offering of 23,000,000 units of Frontier Acquisition Corp., including 3,000,000 units purchased pursuant to the full exercise of the underwriter’s option to purchase additional units, for aggregate proceeds of $230 million. The units are now trading on the Nasdaq Capital Market under the symbol “FRONU.”
Frontier Acquisition Corp. is a special purpose acquisition company (SPAC) formed for the purpose of effecting a business combination with one or more businesses or entities. While not limited to any particular industry, the company intends to pursue opportunities at the intersection of the healthcare and technology industries, specifically within the biotechnology sector. The company is led by Chief Executive Officer Christian Angermayer, Co-Presidents Rick Gerson and Ryan Khoury, Co-Chairmen of the board David A. Sinclair and Peter Attia and director Jonathan Christodoro.
The Davis Polk capital markets team included partners Derek Dostal and Deanna L. Kirkpatrick and associates Jose Lucena-Rebollo and Anthony J. Ricci. The tax team included partner Michael Farber and associate Lex L. Varga. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York, Madrid and Washington DC offices.