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NewAmsterdam Pharma Debuts As Publicly Traded Co. Focused On Developing Obicetrapib As A Potential Preferred Therapy For High Risk Cardiovascular Disease Patients

Benzinga Real-time News ·  Nov 23, 2022 08:04

-- Business combination transaction with Frazier Lifesciences Acquisition Corporation, a special purpose acquisition company sponsored by an affiliate of Frazier Healthcare Partners, completed on November 22, 2022 --

-- Closed concurrent, oversubscribed and upsized approximately $235 million private investment in public equity ("PIPE"), led by Frazier Healthcare Partners and Bain Capital Life Sciences --

-- Gross proceeds from the transactions totaled approximately $328 million, combining approximately $93 million from the former FLAC trust account (reflecting a final redemption rate of approximately 32 percent) and the concurrent PIPE financing; expected to extend cash runway through 2026, beyond all expected Phase 3 readouts for cardiovascular disease, including PREVAIL CVOT study --

-- Listed company to be named NewAmsterdam Pharma Company N.V. --

-- Ordinary shares and warrants to commence trading on the Nasdaq Capital Market under the ticker symbols "NAMS" and "NAMSW," respectively on November 23 –

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