GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--Frontier Investment Corp (the "Company"), today announced that it has closed its initial public offering of 20,000,000 units at an offering price of $10.00 per unit. The units began trading on the Nasdaq Capital Market ("NASDAQ") under the ticker symbol "FICVU" on July 1, 2021. Each unit consists of one ordinary share of the Company and one-third of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one ordinary share at $11.50 per share. Once the securities comprising the units begin separate trading, the ordinary shares and the warrants are expected to be traded on the NASDAQ under the symbols "FICV" and "FICVW," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
J.P. Morgan Securities LLC acted as sole book-running manager for the offering. The Company has granted J.P. Morgan Securities LLC a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission on June 30, 2021. The offering was made only by means of a prospectus. Copies of the prospectus related to this offering may be obtained from J.P. Morgan Securities LLC, via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717. or by visiting EDGAR on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Frontier Investment Corp
Frontier Investment Corp is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Frontier Investment Corp intends to focus its search on a target with business operations or prospective operations in the technology, digital media, e-commerce, financial technology, or digital services sectors (which it refers to as the "new economy sectors") across the high growth markets of the Middle East North Africa & Turkey, Sub-Saharan Africa, South Asia and Southeast Asia, but may pursue an acquisition or a business combination target in any business, industry or geography.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the IPO and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts
For investors:
Arif Mansuri
Chief Financial Officer
Frontier Investment Corp
(302) 351-3367
