Biotech SPAC Frazier Lifesciences Acquisition prices upsized $120M IPO

 

• Frazier Healthcare Partners’ CPAC, Frazier Lifesciences Acquisition Corporation (FLACU) has priced its initial public offering of 12M units (from 10M units) at $10/unit, for gross proceeds of $120M.
• Each unit consists of one Class A ordinary share and one-third of one redeemable warrant to purchase one Class A ordinary share at $11.50.
• Trading commenced today on the Nasdaq.
• Offering is expected to close on December 11.
• Underwriters' over-allotment is an additional 1.8M units.
• Frazier Lifesciences Acquisition Corporation intends to focus on the biotechnology sector in developed countries including, but not limited to, the United States and countries in Europe.
• https://seekingalpha.com/news/3643003-biotech-spac-frazier-lifesciences-acquisition-prices-upsized-120m-ipo