New Frontier Corp NFC.U = 1C, 1/2W
From S1
Warrant - 1 + $11.50 > 1 com. Call $18, Can call cashless.
Trust = $10.00 - trust account located in London, England at Citibank with Continental Stock Transfer & Trust Company acting as trustee.
Expires 24 months.
Focus - healthcare, technology or education sectors in China.
Credit Suisse, UBSS, joint.
Sponsor, New Frontier Public Holding Ltd
"anchor investors, have entered into forward purchase agreements with us which provide for the purchase by the anchor investors of an aggregate of 18,100,000 Class A ordinary shares, plus an aggregate of 4,525,000 redeemable warrants to purchase one Class A ordinary share at $11.50 per share, for an aggregate purchase price of $181,000,000, or $10.00 per Class A ordinary share, which aggregate purchase price includes purchases by entities controlled by Antony Leung and Carl Wu, our Chairman and Chief Executive Officer, for an aggregate of $21,000,000, in a private placement to close concurrently with the closing of our initial business combination. The obligations under the forward purchase agreements do not depend on whether any Class A ordinary shares are redeemed by our public shareholders. As an inducement to the anchor investors to enter into these agreements, our sponsor transferred an aggregate of 2,262,500 Class B ordinary shares to the anchor investors for no cash consideration, which represent 22.0% of the Class B ordinary shares issued and outstanding immediately after this offering (assuming no exercise of the underwriters’ over-allotment option)
Lock up - Our sponsor, Antony Leung and Carl Wu have agreed not to transfer, assign or sell any of its or his founder shares until the earliest of (a) one year after the completion of our initial business combination with respect to 50% of its or his founder shares, (b) two years after the completion of our initial business combination with respect to the remaining 50% of its or his founder shares, and (c) the date on which we complete a liquidation, merger,
Antony Leung, 66, has been our Chairman since our inception. Mr. Leung is the Group Chairman of NFG, which he co-founded with Carl Wu in 2016. Mr. Leung is also the Group Chairman and Chief Executive Officer of Nan Fung Group, a leading Greater China conglomerate based in Hong Kong engaging in real estate and investment businesses. Before joining Nan Fung Group in 2014, Mr. Leung worked for Blackstone from 2007 to 2014, where he held various positions including Senior Managing Director, Co-Head of Private Equity in Asia, Chairman of Greater China and member of the Executive Committee, and was responsible for growing Blackstone’s business in Asia. He successfully arranged the investment by China Investment Corporation in Blackstone’s IPO in 2007.
Mr. Leung was the Financial Secretary of Hong Kong from 2001 to 2003. He played an instrumental role in promoting a closer economic relationship between the mainland of China and Hong Kong, symbolized by his signing, on behalf of the Hong Kong Government, of the Closer Economic Partnership Arrangement (CEPA) with the Central Government in 2003. Mr. Leung has engaged in other public service, including serving as Non-Official Member of the Executive Council of Hong Kong SAR, Chairman of The Education Commission, Chairman of The University Grants Committee, Member of The Exchange Fund Advisory Committee, Director of Hong Kong Airport Authority and Hong Kong Futures Exchange, and Member of the Preparatory Committee and Election Committee for Hong Kong SAR..
Carl Wu, 34, has been our Chief Executive Officer since our inception. Mr. Wu is an investor, entrepreneur and business builder. Prior to co-founding NFG with Mr. Leung in 2016, Mr. Wu worked at Blackstone from 2007 to 2016, where he was one of the youngest Managing Directors globally from December 2014 to 2016. Mr. Wu helped establish Blackstone’s businesses in Asia and China.
Mr. Leung and as such executed a variety of Blackstone’s investments in China. Mr. Wu also led the process to set up the first RMB denominated investment fund by an international private equity firm in Asia for Blackstone. Apart from his extensive investment experience in China and globally, Mr. Wu has also founded several Internet and healthcare businesses. He is the Executive Chairman and co-founder of Boxful Technology, HelloToby Technology, and YD Care, and the Chairman of Care Alliance, China Guizhou Big Data Fund and Precision Therapeutics. Under his leadership, Boxful Technology has become one of the largest on-demand self-storage service providers in Asia, YD Care has grown to become one of the leading and fastest-growing home health operators in China and HelloToby Technology is one of the leading local service marketplace Internet platforms in Hong Kong.
Mr. Wu currently also serves on the board of directors of Precision Therapeutics, Unimed Healthcare and Happiness F&B Group. He previously served on the board of Pactera Technology (the largest private enterprise solutions company in China with over 24,000 employees).
David Lawrence Johnson, 64, is a director nominee. Mr. Johnson is an Executive Senior Advisor at Blackstone. Since joining Blackstone in January 2013 as a Senior Managing Director, Mr. Johnson has led a number of Blackstone’s mergers and acquisitions deals, including the 2014 acquisition of Accuvant, which, under his leadership, was merged with FishNet to create Optiv Inc., one of the largest private cybersecurity companies in the world.
Our executive offices are located 23rd Floor, 299 QRC, 287-299 Queen’s Road Central, Hong Kong, and our telephone number is 852-3703-3251. We will maintain a corporate website at http://www.new-frontier.com/en/nfc/.