Upsized to $230 Million and Includes a $90 Million “Indication of Interest”
New Frontier Corp. filed an amended S-1 this morning with a few noteworthy changes. First, the transaction size is now $230 million, up from $200 million in previous filings. Second, and more importantly, there is now a new section titled “Indications of Interest”. The filing states:
“We have received indications of interest from Mr. Leung and Mr. Wu to purchase 900,000 units in this offering and additional indications of interest from certain other investors to purchase at least 8.1 million units.”
That’s a total of nine million units, or $90 million out of the total $230 million. Furthermore…..
“The underwriters will not receive any underwriting discounts or commissions on up to 9 million units purchased by such parties, including Mr. Leung and Mr. Wu.”
As a reminder, Mr. Antony Leung is New Frontier’s Chairman and Carl Wu is CEO and Director. It doesn’t state who the other interested parties are, but wow, that’s a large amount. However, probably a little bit of bummer for the underwriters now that their fees could potentially be 30% lighter. I say “potentially” because an indication of interest is not a lock. There is no binding commitment from any of the parties to actually purchase at IPO, they’re just saying they…”have an interest”.
One final note: I-Bankers Securities is now on the cover as co-manager so it’s looking like New Frontier is getting ready to price, so this could potentially IPO the end of next week.
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...