Frazier Life Sciences Acquisition Corp. II (FLSC) has successfully completed its initial public offering, raising $75 million in gross proceeds. The company sold 7,500,000 Class A ordinary shares at a price of $10.00 per share. The Class A ordinary shares began trading on The Nasdaq Capital Market under the ticker symbol "FLSC" on October 14, 2026.
The IPO was priced on October 13, 2026, and closed on October 15, 2026, subject to customary closing conditions. Jefferies LLC acted as the sole book-running manager for the transaction.
In connection with the IPO, the company entered into several agreements. These include an Underwriting Agreement with Jefferies, an Investment Management Trust Agreement with Continental Stock Transfer & Trust Company, and a Registration Rights Agreement with the Sponsor and certain officers and directors.
The company also completed a private placement of 300,000 Class A ordinary shares at the same price of $10.00 per share. This private placement generated an additional $3,000,000 in gross proceeds. The shares issued in the private placement are not transferable or salable for 30 days after the completion of the initial business combination, unless approved by public shareholders.
Additionally, Frazier Life Sciences II entered into a Forward Purchase Agreement with Frazier Life Sciences Public Fund, L.P. (FLSPF). Under this agreement, FLSPF committed to purchasing a minimum of 2,500,000 Class A ordinary shares for $10.00 per share, representing a minimum aggregate purchase price of $25,000,000. This private placement is scheduled to close concurrently with the closing of the company's initial business combination.
The company was formed to effect a merger, amalgamation, share exchange, asset acquisition, or similar business combination with one or more businesses. Management intends to focus on opportunities in the biotechnology sector. The company is led by Chief Executive Officer Albert Cha, M.D., Ph.D., Chairman of the Board of Directors Ben Palleiko, and Chief Business Officer Kevin Li, M.D.
Of the gross proceeds from the IPO and the private placement, $75,000,000 was placed in a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company. The funds in the trust account will generally not be released until the completion of the initial business combination or until the redemption of public shares under specific circumstances, such as a failure to complete a business combination within 24 months.
