Covington Represents NewAmsterdam Pharma in Going Public deSPAC Merger with Frazier Lifesciences

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Covington Represents NewAmsterdam Pharma in Going Public deSPAC Merger with Frazier Lifesciences

July 25, 2022

NEW YORK—Covington is representing NewAmsterdam Pharma Holding B.V., a clinical-stage biopharmaceutical company developing obicetrapib, a next-generation oral, low-dose and once-daily CETP inhibitor, for patients at high risk of cardiovascular disease with residual elevation of low-density lipoprotein cholesterol (LDL-C), for whom existing therapies are not sufficiently effective or well-tolerated, in its deSPAC merger with Frazier Lifesciences Acquisition Corporation (FLAC), a special purpose acquisition company sponsored by an affiliate of Frazier Healthcare Partners. NewAmsterdam’s ordinary shares are expected to be listed on Nasdaq under the ticker symbol “NAMS.”

NewAmsterdam is expected to receive approximately $235 million from an upsized and oversubscribed PIPE at $10.00 per share plus funds held in FLAC’s trust account following any redemptions.

The Covington team includes Jack Bodner, Gustavo Akkerman, Ariadne Lyon, and Janna Yu (M&A), Brian K. Rosenzweig, Kerry Burke, Brianna Bloodgood, Alicia Zhang, Andrea Roman-Gonzalez, and Tyler Cochrane (securities and capital markets), Van Ellis, George Jenkins, and Thomas Dwyer (life sciences), Jenna Wallace, Jack Lund and Montene Speight (employee benefits), Ansgar Simon and Abigail Hopper (tax), Gregory Discher (intellectual property), Peter Safir, Grant Castle, Michelle Divelbiss, and Roderick Dirkzwager (regulatory), Stacy Kobrick (HSR), Kat Kingsbury (FDI), Heather Haberl and Adam Osielski (real estate), Thomas Brugato (environmental), Mona Patel (white collar), Libbie Canter (data privacy), and Justin Schenck (trade controls).