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Peter Thiel-backed Compass Pathways files for US IPO

Peter Thiel-backed Compass Pathways files for US IPO

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2 -min read
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[NEW YORK] Peter Thiel-backed Compass Pathways on Friday filed for an initial public offering (IPO), adding to a flurry of filings from tech companies during a week that has already seen Palantir Technologies and Snowflake Inc make their IPO paperwork public.

The United Kingdom-based mental healthcare company, in which Mr Thiel owns a 7.54 per cent stake, said it plans to list its American depositary shares on the Nasdaq under the ticker "CMPS".

The company posted a net loss of US$24.83 million, or 30 US cents per share, in the first six months of the year.

Silicon Valley billionaire Mr Thiel is a co-founder of PayPal, and was Facebook's first major investor. He is also the chairman of Palantir Technologies, which will go public through a direct listing in the coming weeks.

Several companies have been looking to ride the stunning recovery in US capital markets from the Covid-19 pandemic that earlier this year forced them to postpone their debuts.

Cowen, Evercore ISI and Berenberg are the joint book-running managers for the IPO.

REUTERS

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