Frazier Lifesciences Acquisition Corp. announced that it has entered into a written agreement with returning investor, Frazier Lifesciences Sponsor LLC to issue 425,000 units at a price of $10 per unit for gross proceeds of $4,250,000 on October 15, 2020. Each unit will consist of one class A common share and and one-third of one redeemable warrant. If the underwriter’s over-allotment option is exercised in full, the company may issue additional 30,000 units. Each warrant is exercisable to purchase one class A common share at a price of $11.50 per share, subject to adjustment. Each whole warrant will become exercisable on the later of 30 days after the completion of an initial business combination or 12 months from the closing and will expire on the fifth anniversary of completion of an initial business combination, or earlier upon redemption or liquidation. The units will not be transferable, assignable or salable until completion of initial business combination. The securities are being issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.