Peter Thiel-backed Compass Pathways files for U.S. IPO

(Reuters) – Peter Thiel-backed Compass Pathways Plc 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 Thiel owns a 7.54% stake, said it plans to list its American depositary shares on the Nasdaq under the ticker “CMPS”.

The company posted a net loss of $24.83 million, or 30 cents per share, in the first six months of the year. (https://bit.ly/2QCLKOg)

Silicon Valley billionaire Thiel is a co-founder of PayPal and was Facebook Inc’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 U.S. 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.

(Reporting by Neha Malara in Bengaluru)