German firms Mynaric, Northern Data plan Nasdaq listing -sources

finance.yahoo2021-06-17

BERLIN, June 17 (Reuters) - Germany-based laser communication technologies firm Mynaric is preparing for a Nasdaq listing as early as after the summer as it seeks to broaden its investor base and potentially boost its valuation, people close to the matter said.

Data centre operator Northern Data, which like Mynaric is part-owned by technology investor Christian Angermayer, has similar plans for a Nasdaq listing, which could take place later in 2021 or in 2022, they added.

While Mynaric is expected to work with Credit Suisse on the deal, no bank has been shortlisted for the Northern Data transaction, they added.

Both Northern Data and Mynaric are already listed in entry segments in Germany, with Northern Data's market capitalisation standing at 1.3 billion euros ($1.55 billion) and Mynaric's at 300 million euros.

Both companies, Angermayer and Credit Suisse declined to comment.

The listings would add to a string of deals that have involved tech entrepreneur Angermayer, including the IPOs of Sensei Biotherapeutics, Abcellera and Compass Pathways.

Berlin-based biotech Atai Life Sciences, where Angermayer holds about 25% of the shares, is due to list on Nasdaq later this week.

Bookrunners on the deal have guided investors to expect the initial public offering to price in the upper half of the marketing range of $13-$15 a share.

Separately, Angermayer has held talks about a potential SPAC deal for blockchain technology firm Bitfield, although those negotiations have been placed on the backburner, people close to that situation said.

SPACs are shell companies that raise funds in an initial public offering with the aim of merging with a private company, which becomes public as a result, providing an alternative to traditional IPOs.

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