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New Frontier Health Corp

CIK 0001737422

Cash in trust

$295M

$295,480,350

Trust per share

$10.28

Redemption value

IPO

Jun 2018

$288M raised

Combination deadline

—

Not disclosed

Filings on record

129

Latest Feb 11, 2022

Business combination

Target
Not disclosed in an indexed filing
Announced
Sep 11, 2019
Closed
Feb 7, 2022

Overview

New Frontier Health Corp is a special purpose acquisition company incorporated in New York and registered with the SEC under CIK 0001737422. It completed its initial public offering in Jun 2018, raising $288M in gross proceeds. The vehicle is sponsored by New Frontier Public through New Frontier Public Holding Ltd. The mandate targets technology, healthcare, education. Business combination closed; the company trades under a new ticker.

“we intend to focus our search for a target with operations or prospects in the healthcare, technology or education sectors in China, which we refer to as the Chinese new economy sectors.”
The mandate, as stated in the IPO prospectus

Reading the filings

Arithmetic on what New Frontier Health Corp has disclosed, written the way a desk would read it. These are observations, not a rating. Nothing here scores the vehicle or implies a view on it.

  • Trust versus the $10 unit

    The trust holds $10.28 per public share, 2.8% above the $10.00 the units were sold at. That spread is accrued interest on the trust and, where the charter provides for it, sponsor contributions paid in to buy more time. It is the floor a public shareholder can redeem at, not a valuation of the business.

  • Warrant coverage

    Each unit carried one-half warrant per unit. Warrants are dilution deferred: they cost the holder nothing until exercised, and they overhang the post-combination share count. Thinner coverage is generally a sign of a stronger book at pricing.

  • Sponsor record

    New Frontier Public has launched 2 vehicles. Of the 2 that have resolved, 2 closed a combination and 0 liquidated, a 100% completion rate. A sponsor's record is not a forecast, but it does tell you whether the team has taken a deal across the line before.

  • Underwriting

    Credit Suisse led the offering. It has been named on 118 SPAC IPOs, book-running 92 of them, and 58.3% of its resolved vehicles closed a deal. The syndicate has no control over whether a sponsor finds a target, but the quality of the book at pricing shapes who ends up holding the units.

How busy it has been

Filings per month since the first one. A vehicle that has gone quiet with a deadline ahead is a different proposition from one that is still working.

261302018-042022-02

129 filings in all. 16 in the last three months, against a busiest month of 26.

News on New Frontier Health Corp

Last 90 days

Nothing in the last 90 days that names this vehicle. We attribute a story only when the release carries the ticker or the registered name, so an empty section means no press release or wire story matched — not that nothing was published. The filings below are the primary record either way.

SEC filing history

Free tier: filings older than 24 hours
  • SC 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001422848-22-000190

    Feb 11, 2022

    4y ago

    View on EDGAR ↗
  • 15-12B

    Deregistration of securities

    Accession 0001104659-22-012174

    Feb 7, 2022

    4y ago

    View on EDGAR ↗
  • SC 13D/A

    Amended beneficial ownership report (activist)

    Accession 0000895345-22-000111

    Jan 31, 2022

    4y ago

    View on EDGAR ↗
  • EFFECT

    Notice of effectiveness

    Accession 9999999995-22-000263

    Jan 31, 2022

    4y ago

    View on EDGAR ↗
  • S-8 POS

    S-8 POS

    Accession 0001104659-22-008583

    Jan 28, 2022

    4y ago

    View on EDGAR ↗
  • POS AM

    POS AM

    Accession 0001104659-22-008582

    Jan 28, 2022

    4y ago

    View on EDGAR ↗
  • 25-NSE

    Notification of delisting

    Accession 0000876661-22-000095

    Jan 27, 2022

    4y ago

    View on EDGAR ↗
  • SC 13D/A

    SC 13D/A

    Accession 0001104659-22-008018

    Jan 27, 2022

    4y ago

    View on EDGAR ↗
  • SC 13E3/A

    SC 13E3/A

    Accession 0001104659-22-008013

    Jan 27, 2022

    4y ago

    View on EDGAR ↗
  • 6-K

    FORM 6-K

    Accession 0001104659-22-007873

    Jan 26, 2022

    4y ago

    View on EDGAR ↗
  • SEC STAFF ACTION

    SEC STAFF ACTION filing

    Accession 9999999997-22-000179

    Jan 19, 2022

    4y ago

    View on EDGAR ↗
  • 6-K

    FORM 6-K

    Accession 0001104659-22-003200

    Jan 11, 2022

    4y ago

    View on EDGAR ↗
  • 6-K

    FORM 6-K

    Accession 0001104659-22-002053

    Jan 7, 2022

    4y ago

    View on EDGAR ↗
  • 6-K

    FORM 6-K

    Accession 0001104659-21-145946

    Dec 2, 2021

    4y ago

    View on EDGAR ↗
  • SC 13E3/A

    SC 13E3/A

    Accession 0001104659-21-145918

    Dec 2, 2021

    4y ago

    View on EDGAR ↗
  • SC 13D/A

    SC 13D/A

    Accession 0001104659-21-145696

    Dec 2, 2021

    4y ago

    View on EDGAR ↗
  • SC 13D/A

    SC 13D/A

    Accession 0001104659-21-122832

    Oct 5, 2021

    5y ago

    View on EDGAR ↗
  • SC 13E3

    SC 13E3

    Accession 0001104659-21-122787

    Oct 5, 2021

    5y ago

    View on EDGAR ↗
  • SC 13D

    Beneficial ownership report (activist)

    Accession 0000895345-21-000727

    Aug 16, 2021

    5y ago

    View on EDGAR ↗
  • SC 13D/A

    SC 13D/A

    Accession 0001104659-21-101095

    Aug 6, 2021

    5y ago

    View on EDGAR ↗
  • 6-K

    FORM 6-K

    Accession 0001104659-21-099812

    Aug 4, 2021

    5y ago

    View on EDGAR ↗
  • 20-F

    FORM 20-F

    Accession 0001104659-21-077095

    Jun 4, 2021

    5y ago

    View on EDGAR ↗
  • 6-K

    FORM 6-K

    Accession 0001104659-21-071824

    May 25, 2021

    5y ago

    View on EDGAR ↗
  • NT 20-F

    NT 20-F

    Accession 0001104659-21-059156

    Apr 30, 2021

    5y ago

    View on EDGAR ↗
  • 6-K

    6-K

    Accession 0001104659-21-047850

    Apr 8, 2021

    5y ago

    View on EDGAR ↗
  • 6-K

    FORM 6-K

    Accession 0001104659-21-044736

    Mar 31, 2021

    5y ago

    View on EDGAR ↗
  • 424B3

    Prospectus supplement

    Accession 0001104659-21-038123

    Mar 18, 2021

    5y ago

    View on EDGAR ↗
  • 6-K

    FORM 6-K

    Accession 0001104659-21-038122

    Mar 18, 2021

    5y ago

    View on EDGAR ↗
  • SC 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001422848-21-000129

    Feb 16, 2021

    5y ago

    View on EDGAR ↗
  • SC 13D/A

    SC 13D/A

    Accession 0001104659-21-022597

    Feb 16, 2021

    5y ago

    View on EDGAR ↗

Pro

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  • Deadline calendar out to 12 months
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New Frontier Health Corp: questions answered

What is New Frontier Health Corp?

New Frontier Health Corp is a special purpose acquisition company incorporated in New York and registered with the SEC under CIK 0001737422. It completed its initial public offering in Jun 2018, raising $288M in gross proceeds. The vehicle is sponsored by New Frontier Public through New Frontier Public Holding Ltd. The mandate targets technology, healthcare, education. Business combination closed; the company trades under a new ticker.

How much does New Frontier Health Corp hold in trust?

Approximately $295,480,350, or about $10.28 per public share, as at the most recent filing on record. Trust balances move: shareholders redeem at extension votes and at the combination vote, and sponsors pay contributions in to extend. Treat the figure as a point-in-time disclosure, not a running balance.

When must New Frontier Health Corp complete a merger?

No combination deadline appears in the filings we have indexed. The date is stated in the charter and repeated in each quarterly report; where our parser could not establish it with confidence we leave it blank rather than infer one.

What happens if New Frontier Health Corp does not find a target in time?

The charter requires the vehicle to redeem 100% of the public shares and return the trust, pro rata, to public shareholders. That is the mechanism working as designed rather than a default. Founder shares and warrants are worthless in that outcome, which is why the sponsor's incentive is to get a deal done or to buy more time. Across the market, deadline lapsed without a deal; trust returned to public shareholders.

Can I redeem shares in New Frontier Health Corp, and at what price?

Public shareholders may elect to redeem in connection with a combination vote and at each extension vote, at the pro-rata trust value on the relevant record date, most recently disclosed at about $10.28 per share. Redemption is a right attached to the public shares only; warrants and rights carry no claim on the trust. The mechanics and the deadline for electing are set out in the proxy statement for the vote in question.

Is the trust value the same as the share price for New Frontier Health Corp?

No. Trust per share is a disclosed, contractual figure: what a redeeming holder receives. The market price is whatever the shares change hands at, which can sit above the trust when a deal is well received or below it when the market doubts one will close. We do not have a current quote for this vehicle, so no spread is shown.

How much dilution do New Frontier Health Corp's founder shares and warrants create?

Each unit also carried one-half warrant per unit, which is dilution deferred until exercise. Both are disclosed in the prospectus and both survive into the combined company, which is why a de-SPAC at $10 is not economically the same as an IPO at $10.

Who sponsors New Frontier Health Corp, and what is their track record?

New Frontier Public Holding Ltd is the sponsor entity, part of the New Frontier Public franchise. That franchise has launched 2 vehicles in total, of which 2 closed a combination and 0 liquidated, a 100% completion rate on resolved vehicles. Named principals: Carl Wu.

Which banks underwrote the New Frontier Health Corp IPO?

Credit Suisse, UBS, I-Bankers Securities. Credit Suisse and UBS were credited as book-running managers on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.

Is New Frontier Health Corp a good investment?

That is not a question this site answers. New Frontier Health Corp is covered here as reference data: what the company filed, when it filed it, and what the numbers in those filings say. The Edge, FOMO and Potential scores on this page are derived measures with a published formula, not ratings of investment merit: they describe the setup, and every component is shown so you can take them apart. We publish no price targets and no recommendations, and nothing here should be read as advice. The figures are a starting point for your own work, and each one carries the accession number of the filing it came from.

Where does this New Frontier Health Corp data come from?

Filings New Frontier Health Corp submitted to the SEC under CIK 0001737422: the registration statement and final prospectus for the structure, quarterly and annual reports for the trust, current reports and proxy statements for deals, votes and extensions. Trust economics are taken from the registrant's own XBRL tags rather than parsed from prose, which is why they are exact. Every filing in the history above is listed with its accession number, which identifies the document uniquely on EDGAR; Pro accounts open it directly from the row.

Compiled by the SPACListing research desk

Last reconciled Oct 31, 2026

Every figure on this page is read from documents the registrants filed with the U.S. Securities and Exchange Commission, principally the IPO prospectus (Form 424B4), quarterly and annual reports, current reports and proxy statements, the registrant's own XBRL tags for trust economics. Nothing is sourced from press coverage, from the companies themselves, or from a third-party aggregator. Where a filing does not disclose something, the field is left blank rather than estimated.

Read the full methodology · What is in the dataset · Report a correction

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The context around this vehicle: who else the sponsor has launched, which banks priced it, and where it sits in the wider market.