Frazier Life Sciences Acquisition II, the second blank check company formed by Frazier targeting biotech, raised $75 million by offering 7.5 million shares at $10. Unlike most SPACs, it did not offer units with warrants or rights attached.
Frazier Life Sciences Acquisition II is led by CEO and Director Albert Cha, a Managing Partner at Frazier Life Sciences, which originated as the life sciences strategy of Frazier Healthcare Partners. The SPAC plans to target the biotech sector, with the goal of financing a company that can develop important new therapies for patients while creating value for shareholders.
Frazier's previous SPAC, Frazier Lifesciences Acquisition, completed its combination with cardiometabolic disease biotech NewAmsterdam Pharma (NAMS; +102% from $10 offer price) in 2022.
The Palo Alto, CA-based company will trade on the Nasdaq under the symbol FLSC. Jefferies acted as sole bookrunner on the deal.
