Science 37 SPAC
Transaction Overview.
Science 37 has agreed to key terms of a potential business combination with LifeSci
Acquisition II Corp. (LifeSci)
Transaction Structure:
Use of Proceeds:
Valuation:
Timeline:
Science 37
$80.1M cash in trust(a); $200.0M PIPE proceeds
Selling shareholders of the company to receive newly issued shares of SPAC common stock
at $10.00 per share and an additional 12.5 million shares subject to a price-based earnout(b)
The company intends to use the net proceeds from the transaction for geographic
expansion, to expand its tech platform to further service pharma and to pursue M&A
opportunities
$1,300 pro forma equity value; $1,050 pro forma fully-diluted TEV with no debt outstanding
at closing
Proposed transaction announcement date during the week of May 3rd
(a) Assumes no redemption from LifeSci's existing public shareholders.
(b) 5 million earnout shares at $15.00 and 7.5 million earnout shares at $20.00 (for 20 trading days of any consecutive 30 trading day period following closing)
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