Frazier Lifesciences Acquisition Corporation has merged with NewAmsterdam Pharma Holding

NewAmsterdam

NewAmsterdam is a private clinical-stage biopharmaceutical company with a mission to improve patient care in populations with metabolic diseases where traditional therapies have not been sufficiently successful or well-tolerated. NewAmsterdam is investigating obicetrapib, a next-generation oral, low-dose and once-daily cholesteryl ester transfer protein inhibitor, as the preferred low-density lipoprotein cholesterol-lowering therapy for high-risk cardiovascular disease patients.

The Deal

On July 25, 2022, NewAmsterdam and FLAC announced that they had entered into a definitive business combination agreement. On November 15, 2022, FLAC announced that its shareholders voted to approve the proposed business combination with NewAmsterdam. In connection with the business combination, the holders of approximately 32% of FLAC Class A ordinary shares exercised their right to redeem their shares for cash.The ordinary shares and redeemable warrants of the combined company, NewAmsterdam Pharma Company N.V., will be listed on The Nasdaq Stock Market LLC under ticker symbols “NAMS” and “NAMSW” respectively, and are anticipated to begin trading on November 23, 2022. Any FLAC units will automatically separate into the equivalent Class A ordinary shares and warrants upon the consummation of the business combination.

Lincoln provided a fairness opinion to the Board of Directors of FLAC in connection with the transaction.

David Topper, Chief Financial Officer of Frazier Lifesciences Acquisition Corporation, commented, “The Lincoln team was exceptional in helping us navigate this unique and complex transaction. Lincoln’s cross-functional team that coupled deep fairness opinion experience with its industry perspective allowed them to craft a truly differentiated, robust and defensible fairness analysis. We are thankful for their relentless commitment to our transaction and flawless execution.”

Our Perspective

Chris Gregory, Managing Director in Lincoln’s Valuations and Opinions Group who leads fairness and solvency opinions, stated, “We are thrilled to have had the opportunity to advise FLAC on the transaction and look forward to its continued success as it benefits from its partnership with NewAmsterdam.

FLAC

FLAC is blank check company incorporated as a Cayman Islands exempted company in October 2020 for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. FLAC was formed to leverage the extensive experience and track record of its management team with the goal of financing a company that can both develop transformative therapies for patients in need and deliver significant returns to its investors.

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