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Ahren Acquisition Corp. - AHRN

  • Commons

    $9.93

    +0.00%

    AHRN Vol: 0.0

  • Warrants

    $0.14

    +0.00%

    AHRNW Vol: 0.0

  • Units

    $9.95

    +0.00%

    AHRNU Vol: 0.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 297.9M
Average Volume: 80.5K
52W Range: $9.76 - $10.01
Weekly %: -0.20%
Monthly %: +0.51%
Inst Owners: 0

Info

Target: Searching
Days Since IPO: 199
Unit composition:
Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-half of one redeemable warrant
Trust Size: 25000000.0M

Management

Our officers, directors and director nominees are as follows: Name Age Position Alice Newcombe-Ellis 38 Chief Executive Officer and Director Elliot Richmond 42 Chief Financial Officer and Director Sir Shankar Balasubramanian 55 Science Partner1 Jeremy Darroch 59 Director Nominee Kathleen Hughes 54 Director Nominee Uwe Krüger 57 Director Nominee Donald McLellan 55 Director Nominee Alice Newcombe-Ellis has been our Chief Executive Officer and a director since our inception. Alice is the Founding and General Partner of Ahren, an investment firm affiliated with Ahren Acquisition Corp. Alice set up Ahren with eight co-Founding Science Partners to invest in and help build transformational companies at the intersection of deep technology and deep science. Alice brings financial sector expertise beginning 15 years ago, including at TPG Capital LLP (a leading global private equity firm with more than $70 billion of AUM as of March 30, 2021) and at Lansdowne Partners LLP (a leading investment firm with more than $11 billion AUM as at November 2020). Notably, Alice has led all Ahren’s transactions including the co-founding of Adrestia Therapeutics Ltd where she negotiated the co-led Ahren/GSK equity investment in Adrestia Therapeutics which was completed alongside a partnership deal with GSK worth up to $1.2 billion; Ahren’s investment in Bicycle Therapeutics plc, whose value as at November 20, 2021 was $1.7 billion; and Ahren’s investment in Graphcore Limited whose value as at December 2020 was $2.77 billion. Alongside her investing career, Alice has had a longstanding commitment to initiatives for meaningful positive impact including participation in the TPG ‘Social Impact’ initiative, membership of the Lansdowne Charity Committee, and in a project with the United Nations Development Program’s Bureau for Crisis Prevention and Recovery under sponsorship of Professor Michael Porter at Harvard Business School with the objective to transform crisis aid. Alice is a Fulbright Scholar, an award granted to competitively-selected citizens. From 2014 to 2021, Alice served as a Trustee of the British Friends of Harvard Business School. Alice holds a B.A in Mathematics (First Class Honors) and Master’s in Mathematics with focus on applied Maths and theoretical Physics from the University of Cambridge. Alice is a Harvard Business School MBA where she was a Baker Scholar (top 5%). We believe Alice is qualified to serve on our board of directors due to her extensive investment, operational and managerial experience as a founder and investor. Elliot Richmond has been our Chief Financial Officer and a director since our inception. Elliot has been our Chief Financial Officer since our inception. Elliot has had a successful 20-year career in investment banking, during which he was honored by Financial News’ “40 Under 40 Rising Stars in Investment Banking”. Elliot was previously a Partner and Managing Director at Moelis & Company (from 2012 to 2019). Prior to joining Moelis & Company in 2011, Elliot was Director of UK Investment Banking, and Head of UK ECM, at Bank of America Merrill Lynch. Throughout his career, Elliot has advised on over $75 billion worth of domestic and cross-border mergers & acquisitions, and equity offerings. Notable transactions where Elliot has taken a leadership role include WS Atkins $3.2 billion sale to SNC-Lavalin, ICI’s $16 billion sale to Akzo Nobel, WPP’s $2 billion hostile acquisition of TNS, and Dubai World’s $3.5 billion acquisition of Economic Zones FZE and LSE delisting. Alongside his banking career, Elliot is also an experienced angel investor, having partaken in over 80 private pre-seed, seed, and Series A equity investments across a variety of sectors in the UK and the US. Elliot holds a B.Sc. in Economics from University College London and has also partaken in the Wharton School’s Merrill Lynch Investment Banking Institute. We believe Elliot is qualified to serve on our board of directors due to his extensive investment, financial and managerial experience as an investor and director. ____________​1 Sir Shankar Balasubramanian is an Officer of Ahren Acquisition Corp. 125 Table of Contents Sir Shankar Balasubramanian is our Science Partner and an Ahren Science Partner. Sir Shankar is the principal inventor of the leading next generation human genome sequencing technology core to all sequencing platforms of Illumina, Inc. (approximately $60 billion market capitalization as of November 12, 2021). Sir Shankar’s technology has made routine, accurate, low-cost sequencing of human genomes a reality, has evolutionized biology and accelerated the development of genomic personalised medicine. In addition, Sir Shankar is the founder of two highly successful companies including Solexa Inc., which was sold to Illumina Inc. for approximately $620 million in 2007, and Cambridge Epigenetix Limited (on-going). Sir Shankar is a Herchel Smith Professor of Medicinal Chemistry in the Department of Chemistry at the University of Cambridge (from 2008 to present) and is Senior Group Leader at the Cancer Research UK Cambridge Institute (from 2010 to present). Sir Shankar is also a Fellow of Trinity College, Cambridge (from 1994 to present). During his career, Sir Shankar has received in excess of twenty awards, including: the Breakthrough Prize in Life Sciences (2022); the Millennium Technology Prize (2020); the Royal Medal (2018); the Paul Ehrlich Award (Société de Chimie Thérapeutique) (2018); the Royal Society Mullard Award (2009); the BBSRC Innovator of the year (2010); and the Tetrahedron Prize Prize for Creativity in Organic and Biomedicinal Chemistry (2013). In 2012, Sir Shankar was elected Fellow of the Royal Society and elected member of EMBO. In 2011, Sir Shankar was elected Fellow of the Academy of Medicinal Sciences. Sir Shankar holds a Ph.D in Enzyme Chemistry from the University of Cambridge and a First-Class B.A (Hons) in Natural Sciences also from the University of Cambridge (Fitzwilliam College). Jeremy Darroch has agreed to serve as an Independent Director of the company. Jeremy brings greater than 30 years’ experience in building large businesses, identifying strategic M&A opportunities and negotiating deals having served in multiple senior and executive positions at British, European and American businesses. Jeremy is the Executive Chairman of Sky Group Limited (from 2021 to present). Previously, Jeremy was Chief Executive Officer of Sky plc (from 2014 to 2021) which he led through a $40 billion dollar acquisition by Comcast Corporation and where he championed Environmental, Social, and Corporate Governance Initiatives. Prior to Sky plc, Jeremy was the Chief Executive Officer of British Sky Broadcasting Group plc (from 2007 to 2014) and Chief Financial Officer (from 2004 to 2007), leading the business through its acquisition of Sky Italia and Sky Deutschland in 2014. Jeremy was previously Group Finance Director of DSG International plc (“DSG”), formerly Dixons Group plc and prior to DSG, he spent 12 years at The Procter & Gamble Company in a variety of roles in the UK and Europe. Alongside his career, Jeremy is an Ambassador of WWF. He was previously Chair of Business in the Community, a Senior Independent Director of Burberry Group plc, a Non-Executive Director and the Chairman of the Audit Committee of Marks and Spencer Group plc, a Council Member of the National Centre for Universities and Business and trustee of the Youth Sport Trust. Jeremy holds a B.Sc. in Economics from the University of Hull. We believe Jeremy is qualified to serve on our board of directors due to his extensive managerial, operational and executive experience as a director and officer. Kathleen Hughes has agreed to serve as an Independent Director of the company. Kathleen has 30 years’ experience at tier one global investment banks and was named “Investment Woman of the Year — Large Firms” by Investment Week in 2018 and 2019 and one of the “100 Most Influential People in Finance” by Treasury & Risk Magazine in 2011. Kathleen is experienced in building and restructuring senior management teams, developing and promoting next generation leaders and successfully implementing strategic investment plans. Prior to her recent retirement from The Goldman Sachs Group, Inc. (from 2010 to 2021), Kathleen was the global head of the Liquidity Solutions client business and the interim head of the EMEA retail client business. Before joining Goldman Sachs, Kathleen was the head of Global Liquidity sales for EMEA at J.P. Morgan Asset Management, the brand name for the asset management business of JPMorgan Chase & Co. Kathleen’s career at JP Morgan began in 1990 and included 10 years in Retail and Private Banking and 10 years in Asset Management. Kathleen was well known both within Goldman Sachs and also in the broader asset management industry for her twin passions of ESG / Impact investing and Diversity, Equity and Inclusion. She served on the Goldman Sachs Sustainable Finance Steering Group, the Goldman Sachs EMEA Inclusion and Diversity Committee and the Investment Management division’s Inclusion and Diversity council. Outside of Goldman Sachs, Kathleen was a member of the Diversity Project Advisory Council and was a committee member of the CFA UK Diversity and Inclusion Network. Since 2019 Kathleen has been a member of the Board of Trustees of the University of Richmond where she sits on the following committees: the Advancement and Communications Committee, the Student Development Committee and the Investment Committee. In addition, Kathleen is a member of the Executive Advisory Council of the Robins School of Business at the University of Richmond. 126 Table of Contents Kathleen holds a B.A. in Economics from the University of Richmond. We believe Kathleen is qualified to serve on our board of directors due to her extensive financial, investment and strategic experience as an investor and officer. Uwe Krüger has agreed to serve as an Independent Director of the company. Uwe is an exceptionally experienced academic, investor, and technology business executive, and was awarded the 2016 ACE European Chief Executive Officer of the Year award. Uwe is Head of Industrials, Business Services, Energy & Environment and Head Europe, Middle East & Africa at Temasek International Pte. Ltd. (from 2018 to present), a leading globally diversified investment company headquartered in Singapore with a net portfolio of S$306 billion as at 31 March 2020. Previously, Uwe was Chief Executive Officer of WS Atkins plc (from 2011 to 2017), leaving when the company was acquired by SNC-Lavalin Group Inc., and delisted from the London Stock Exchange. Prior to WS Atkins plc, Uwe was President of Cleantech Switzerland linked to the Swiss Federal Government (from 2010 to 2011). In addition, Uwe was also an Operations Director and Senior Advisor with TPG Capital based in London and San Francisco. Before TPG Capital, Uwe was the Chief Executive Officer of OC Oerlikon Management AG (from 2007 to 2009), was Chairman of Turner International (Dallas/US) (from 2004 to 2006) and had assumed multiple roles with Hochtief AG (from 1997 to 2003), among them Chief Executive Officer of Central/Eastern Europe (Warsaw, Moscow). Uwe currently serves on the board of several international companies. He is the Senior Independent Director of Aggreko plc, Glasgow, and Director of Gategroup AG in Zurich. Alongside his career, Uwe has had a longstanding commitment to academia and cutting-edge research, having worked on various research assignments at Columbia University, New York and Ecole Normale Superieur, Paris. Uwe holds an Honorary Professorship of Physics at Johann Wolfgang Goethe University, Frankfurt, where he lectures, and also holds an Honorary Doctorate at Heriot-Watt University, Edinburgh. Uwe holds several degrees from the University of Frankfurt, including: a B.Sc. in Business Administration; a B.Sc. and Master’s in Physics; and a Ph.D. in Complex System Theory and Brain Research. We believe Uwe is qualified to serve on our board of directors due to his extensive investment, operational and strategic experience as a founder, officer and investor. Donald (“Don”) McLellan has agreed to serve as an Independent Director of the company. Don is a Partner at BDT & Company, LLC, a merchant bank that provides advice and long-term capital through its affiliated funds to help family- and founder-led businesses pursue their strategic and financial objectives. Prior to joining BDT at its formation in 2009, Don was Interim Capital Purchase Program Director for the United States Department of Treasury as part of the Troubled Asset Relief Program from October 2008 to 2009. Previously Don had a longstanding career at Motorola, Inc. from 1996 to 2008, including as Senior Vice President of Mergers and Acquisitions and Strategy. Prior to Motorola, Don worked in corporate law from 1990 to 1996 with roles at both Winston & Strawn LLP and Pillsbury Winthrop Shaw Pittman LLP, gaining experience in M&A, securities, finance, and intellectual property. Don holds a J.D. degree from the University of Chicago Law School, an M.A. in Social Science from the University of Chicago, and a B.A. in Behavioral Science from the University of Chicago. Don is International Co-Chairman of the Woodrow Wilson International Center for Scholars National Cabinet. We believe that Don is qualified to serve on our board of directors due to his extensive investment and managerial experience and will be able to offer valuable insight when it comes to making strategic decisions. Ahren’s Science Partners are an interdisciplinary group of preeminent scientists with prior successes that span our four domains of focus: Brain & Artificial Intelligence, Genetics & Platform Technologies, Planet & Efficient Energy, and Space, Robotics & Physics. As well as exceptional academic credentials, the majority of the Science Partners have a track record of building commercially successful companies founded upon breakthrough science and technology, and in some cases creating entirely new markets. Together, they have founded companies and / or invented technologies that are today valued in excess of $100 billion combined. We currently expect Ahren’s Science Partners to potentially: (i) assist us in sourcing and negotiating with potential business combination targets; (ii) provide business insights when we assess potential business combination targets; and (iii) upon our request, provide business insights as we work to create additional value in the businesses that we acquire. In this regard, the Science Partners will fulfill some of the same functions as our board members. However, Ahren’s Science Partners have no written advisory agreement 127 Table of Contents with us. Moreover, the Science Partners will not be under any fiduciary obligations to us nor will such members perform board or committee functions, nor will such members have any voting or decision-making capacity on our behalf. Ahren’s Science Partners will also not be required to devote any specific amount of time to our efforts or be subject to the fiduciary requirements to which our board members are subject. Accordingly, if the Science Partners become aware of a business combination opportunity which is suitable for any of the entities to which such member has fiduciary or contractual obligations (including other blank check companies), he or she will honor his or her fiduciary or contractual obligations to present such business combination opportunity to such entity, and only present it to us if such entity rejects the opportunity. Ahren may modify or expand their roster of Science Partners as we source potential business combination targets or create value in businesses that we may acquire. Number and Terms of Office of Officers and Directors Our board of directors will consist of six members and will be divided into three classes with only one class of directors being appointed in each year, and with each class (except for those directors appointed prior to our first annual general meeting) serving a three-year term. In accordance with Nasdaq corporate governance requirements, we are required to hold an annual general meeting no later than one year after our first fiscal year end following our listing on Nasdaq. The term of office of the first class of directors, which will consist of Jeremy Darroch and Kathleen Hughes, will expire at our first annual general meeting. The term of office of the second class of directors, which will consist of Uwe Krüger and Donald McLellan, will expire at the second annual general meeting. The term of office of the third class of directors, which will consist of Alice Newcombe-Ellis and Elliot Richmond will expire at the third annual general meeting. Our officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint officers as it deems appropriate pursuant to our amended and restated memorandum and articles of association. Director Independence Nasdaq rules require that a majority of our board of directors be independent within one year of our initial public offering. An “independent director” is defined generally as a person who, in the opinion of the company’s board of directors, has no material relationship with the listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with the company). Upon the effectiveness of the registration statement of which this prospectus forms a part, we expect to have four “independent directors” as defined in Nasdaq rules and applicable SEC rules prior to completion of this offering. Our board of directors has determined that Jeremy Darroch, Kathleen Hughes, Uwe Krüger and Donald McLellan are “independent directors” as defined in Nasdaq listing standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present. Officer and Director Compensation None of our officers or directors have received any cash compensation for services rendered to us. Commencing on the date that our securities are first listed on Nasdaq through the earlier of consummation of our initial business combination and our liquidation, we will pay an affiliate of our sponsor $10,000 per month for the administrative and support services provided to members of our management team. In addition, our sponsor, officers and directors, or any of their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Further, we may pay a consulting, success or finder fees to our independent directors consultants and/or advisors, including the Science Partners, or their respective affiliates in such amount(s) as our board of directors deems appropriate in connection with the consummation of our initial business combination. Our audit committee will review on a quarterly basis all payments that were made to our sponsor, officers or directors, or our or their affiliates. Any such payments prior to an initial business combination will be made from funds held outside the trust account. Other than quarterly audit committee review of such reimbursements, we do not expect to have any additional controls in place governing our reimbursement payments to our directors and officers for their out-of-pocket expenses incurred in connection with our activities on our behalf in connection with identifying and consummating an initial business combination. Other than these payments and reimbursements, no compensation of any kind

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q QUARTERLY REPORT 2022-05-16 https://www.sec.gov/Archives/edgar/data/1856696/000121390022026608/f10q0322_ahrenacq.htm
3 2022-04-11 https://www.sec.gov/Archives/edgar/data/1856696/000121390022019269/xslF345X02/ownership.xml
8-K CURRENT REPORT 2022-04-07 https://www.sec.gov/Archives/edgar/data/1856696/000121390022018741/ea158212-8k_ahrenacquis.htm
10-K ANNUAL REPORT 2022-04-01 https://www.sec.gov/Archives/edgar/data/1856696/000121390022017091/f10k2021_ahrenacq.htm
NT 10-K NOTIFICATION OF LATE FILING 2022-04-01 https://www.sec.gov/Archives/edgar/data/1856696/000121390022017078/ea157788-nt10k_ahrenacq.htm
SC 13G SCHEDULE 13G 2022-02-14 https://www.sec.gov/Archives/edgar/data/1856696/000121390022007522/ea155680-13gaacslp_ahrenacq.htm
SC 13G 2022-02-11 https://www.sec.gov/Archives/edgar/data/1856696/000138995622000018/13G_Report_AHRNU_3.htm
SC 13G FORM SC 13G 2022-02-07 https://www.sec.gov/Archives/edgar/data/1856696/000106299322002833/formsc13g.htm
SC 13G SC 13G 2022-02-04 https://www.sec.gov/Archives/edgar/data/1856696/000110465922011768/tm222458d61_sc13g.htm
8-K CURRENT REPORT 2022-02-01 https://www.sec.gov/Archives/edgar/data/1856696/000121390022004854/ea154793-8k_ahrenacquis.htm
SC 13G AHREN ACQUISITION CORP. 2021-12-27 https://www.sec.gov/Archives/edgar/data/1856696/000090266421005398/p21-2731sc13g.htm
8-K CURRENT REPORT 2021-12-23 https://www.sec.gov/Archives/edgar/data/1856696/000121390021067301/ea152987-8k_ahrenacq.htm
SC 13G SC 13G 2021-12-22 https://www.sec.gov/Archives/edgar/data/1856696/000119312521364653/d229342dsc13g.htm
4 2021-12-17 https://www.sec.gov/Archives/edgar/data/1856696/000121390021066086/xslF345X03/ownership.xml
8-K CURRENT REPORT 2021-12-17 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065994/ea152579-8k_ahrenacq.htm
424B4 PROSPECTUS 2021-12-16 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065754/f424b41221_ahrenacq.htm
EFFECT 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/999999999521004687/xslEFFECTX01/primary_doc.xml
S-1MEF REGISTRATION STATEMENT 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065311/ea152364-s1mef_ahrenacq.htm
3 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065303/xslF345X02/ownership.xml
3 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065302/xslF345X02/ownership.xml
3 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065301/xslF345X02/ownership.xml
3 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065306/xslF345X02/ownership.xml
3 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065304/xslF345X02/ownership.xml
3 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065300/xslF345X02/ownership.xml
3 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065305/xslF345X02/ownership.xml
CERT 2021-12-14 https://www.sec.gov/Archives/edgar/data/1856696/000135445721001457/8A_Cert_AHRN.pdf
CORRESP 2021-12-13 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065043/filename1.htm
8-A12B FOR REGISTRATION OF CERTAIN CLASSES 2021-12-13 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065041/ea152235-8a12b_ahrenacqu.htm
CORRESP 2021-12-13 https://www.sec.gov/Archives/edgar/data/1856696/000121390021065040/filename1.htm
CORRESP 2021-12-13 https://www.sec.gov/Archives/edgar/data/1856696/000121390021064823/filename1.htm
S-1/A AMENDMENT NO. 1 TO FORM S-1 2021-12-13 https://www.sec.gov/Archives/edgar/data/1856696/000121390021064821/fs12021a1_ahrenacquisition.htm
UPLOAD 2021-12-10 https://www.sec.gov/Archives/edgar/data/1856696/000000000021014861/filename1.pdf
S-1 REGISTRATION STATEMENT 2021-11-24 https://www.sec.gov/Archives/edgar/data/1856696/000121390021061861/fs12021_ahrenacquisition.htm
DRS/A 2021-08-04 https://www.sec.gov/Archives/edgar/data/1856696/000121390021040154/filename1.htm
DRSLTR 2021-08-03 https://www.sec.gov/Archives/edgar/data/1856696/000121390021040156/filename1.htm
UPLOAD 2021-06-09 https://www.sec.gov/Archives/edgar/data/1856696/000000000021007128/filename1.pdf
DRS 2021-05-13 https://www.sec.gov/Archives/edgar/data/1856696/000121390021026056/filename1.htm