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Lifesci Acquisition II Corp.

LSAQ · Nasdaq

Trust settledScience 37 Holdings, Inc. · Finished

NO ACTION REQUIRED

Nothing left to do

The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.

Cash at settlement

no closing figure

No cash-per-share figure was filed for this vehicle before it finished.

Last close

no quote on file

Daily close

Nothing left to claim

this vehicle finished

There is nothing to hand back: holders who wanted cash elected it at the vote, and the rest became shares in the buyer.

Read what happened to the cash

The floor

Trust settled

This SPAC has finished — its trust was paid out or used to close the deal, so there is nothing left to redeem

Read the reasoning behind this verdict

No price history on file yet — daily closes accumulate from the market data feed.

Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.

SpacBrain’s read

Trust settled

The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

In plain terms

What it is
A SPAC from LifeSci Holdings, LLC, listed on Nasdaq in November 2020.
What it's doing now
It agreed to buy Science 37 Holdings, Inc., a decentralized clinical trial platform company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
What you should know
This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.

At a glance

Where it stands
Closed (deSPAC)
The business it bought
Science 37 Holdings, Inc.’s (Nasdaq: SNCE) mission is to accelerate clinical research by enabling universal trial access for patients
Industry
Health Care — decentralized clinical trial platform
Deal value
not stated in the filings we hold
Price vs cash at settlement
no live price on file
Cash in trust when it settled
not yet extracted into a snapshot — the filings below may state it
the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
IPO
23 November 2020
size not on file
Headquarters
800 PARK OFFICES DRIVE, RESEARCH TRIANGLE PARK, NC, 27709
registered in Delaware
Lead underwriter
not extracted from the prospectus yet
Key officers
Shipton Michael (Chief Commercial Officer) · Cotliar Jonathan (Chief Medical Officer) · Forman Darcy (Chief Delivery Officer)
Listed securities
LSAQ common
Cash held per sharenot filed for this window

This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.

Next date that mattersno dated event on file

Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.

Yield to redemption

Nothing left to redeem — no yield to compute.

This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.

What happened to the cash

The reasoning behind the verdict above, in the order the filings establish it.

  1. The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

What has happened, and what is coming

1 dated milestone

Every dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.

  1. 23 November 2020IPOpassed

    IPO size not on file

The deal

terms as filed

What it is buying, on what terms, and how much of the combined company new shares take from you.

  • Science 37 Holdings, Inc.—
    closedHealth Care

    What Science 37 Holdings, Inc. does — read from science37.com on 26 August 2026

    Science 37 is an industry-leading patient access company and modern clinical research site that delivers clinical trials directly to patients' homes. Founded over a decade ago, it is the first and only FDA-inspected direct-to-patient site, supporting trial enrollment through patient- and site-centric solutions across a wide range of therapeutic areas.

    Morrisville, NCCardiovascularCentral Nervous SystemDermatologyEndocrinologyGastroenterologyHematology
    Deal structureSEC-primary — BCA 8-K / S-4 / DEFM14A
    PIPE
    ≈ $200M · unsourced
    Break fee
    $1M

    PIPE terms — instrument, coupon, conversion price and any reset floor — are not sourced for this deal. The size above is itself unsourced — a stored figure no filing we hold states — so neither the size nor the terms should be read as cited.

    stated in:0001104659-21-096507 opens on sec.gov in a new tab0001104659-24-007463 opens on sec.gov in a new tab

The score

deterministic, from filed fields

LSAQ is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.

Asymmetric return scoreNeither a price nor a cash-per-share figure is on file for this vehicle, and the score is a ratio between the two. Nothing is estimated to fill the gap.

The score is only published for names that carry both a price and a filed cash-per-share figure — 295 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.

See the names that are scored, and how

The company

from SEC filings
Read the full profile

Lifesci Acquisition II Corp. was a blank-check company whose common stock traded on Nasdaq under the ticker LSAQ. The company priced its initial public offering on November 23, 2020, under SEC file number 333-249480, with shares registered for cash on S-1 filing 0001104659-20-114990 dated October 14, 2020. Its prospectus, filed as 424B4 0001104659-20-128486, self-described the registrant as a blank check company and listed its SIC industry code as 8731, Services-Commercial Physical & Biological Research. The common ticker LSAQ appears on the cover page of the company's 10-K filing 0001104659-21-110580, filed August 27, 2021. The vehicle completed a business combination and no longer files, as established by Form 25 0001354457-24-000138 filed March 12, 2024, under 17 CFR 240.12d2-2(a)(3), reflecting that the shares came to evidence other securities in substitution therefor; EDGAR now files CIK 0001819113 under the name Science 37 Holdings, Inc.

Material findings

from the full read of every filing

Every document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.

  • DEF 14A27 October 20230001140361-23-049957opens on sec.gov in a new tab

    Nearly eleven months elapsed between the December 27, 2022 Nasdaq bid price notice and this vote, so the company has exhausted its compliance runway and the split is a delisting remedy rather than a strategic choice. With 119.3 million shares outstanding and a sub-$1 price, the equity market value has collapsed since the 2021 de-SPAC. The 12.5 million earn-out shares are effectively dead at these levels because their price targets are unreachable, which at least removes that overhang, but it also confirms how far the stock has fallen from deal-date assumptions.

  • S-4/A15 September 20210001104659-21-115997opens on sec.gov in a new tab

    The count is itemised: 100,000,000 shares are issuable to Science 37's common holders and to holders of securities exercisable or convertible into its common stock, and a further 12,500,000 are the maximum earn-out shares payable in certain circumstances under the merger agreement. Inside the 100,000,000 sit 16,430,737 shares underlying options resulting from automatic conversion of Science 37 Options and up to 11,990 shares underlying converted Science 37 Warrants. The $5,516.03 is a par-value construct, not a valuation.

  • S-4/A31 August 20210001104659-21-111682opens on sec.gov in a new tab

    The 100,000,000 figure is fully loaded rather than a plain share count: it includes 16,430,737 shares issuable on options that convert automatically from Science 37 Options, and up to 11,990 shares underlying converted Science 37 Warrants, so the option overhang sits inside the ceiling. The 12,500,000 earn-out shares sit on top and are contingent. The $5,516.03 is a Rule 457(f)(2) construct — Science 37 is private, no market exists for its securities and it has an accumulated deficit — hence a registration fee of $1.

  • S-428 July 20210001104659-21-096507opens on sec.gov in a new tab

    The $5,516.03 is a Rule 457(f)(2) construct rather than a valuation — Science 37 is private, no market exists for its securities and it has an accumulated deficit, so the price is one-third of the aggregate par value of the securities to be exchanged. The share count is the usable number and it is itemised: 100,000,000 shares to Science 37's holders, already including up to 11,990 shares underlying converted Science 37 Warrants and 16,430,737 shares issuable on converted Science 37 Options, plus a maximum 12,500,000 earn-out shares.

Filings

live EDGAR feed

Everything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.

Show the other 10 filings

The record

The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.

Show the reference detail

Unit structure

Cash in trust at IPOnot extracted from the prospectus

from 424B3 0001104659-23-030589

Trading & liquidity

Average daily volume (20d)no volume reported on the bars we hold
Average daily $ volumeneeds both volume and a live price
Range over the bars heldnot enough price history
Total cash in trustthe trust total is not in the last XBRL stamp

Company profile

Industry (SIC)Services-Commercial Physical & Biological Research (8731)
Registered inDelaware
Exchange · CIKNasdaq · 0001819113

All filings on EDGARopens on sec.gov in a new tab

Directors & officers

Institutional holders

from SC 13G/13D

Funds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.

Show the declared stakes

9 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.

One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.

News

company wires and the financial press

Reporting we have matched to this ticker. Headlines belong to the outlets that wrote them.

Show the headlines

Sources on file

harvested pages, kept in full

Every public page we have read about this company, stored in full so a source can never go missing.

Show the sources

34 full SEC filing texts archived — searchable, never lost.

In plain English

tap a term to open it

Every piece of jargon this page could have used, and what it actually means.

Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected

A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.

Redemption deadlinethe last day to hand shares back for cash

Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.

Broker action datethe day your broker needs the instruction — earlier than the official date

Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.

Cash in trust / trust per sharethe cash the company is holding for each public share

Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.

Trust discountbuying below the cash held for you

Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.

Dilutionhow much of the company new shares take from you

Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.

Pro-forma equitywhat the company is valued at once the deal closes

The combined company's equity value assuming the announced terms and the redemptions that have actually happened.

ARShow much upside you get per unit of downside

SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.

De-SPACthe day the SPAC becomes the real company

The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.

Outside datethe contractual long-stop for closing the deal

A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.

Accession numberthe SEC's unique id for one filing

Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.

Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since

A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.

Ask the brain

from its filings
Data provenance & audit trail5 internal entries

Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.

LSAQ — company record
UNIVERSE-IPO-INDEX2026-08-17

admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 8731 (Services-Commercial Physical & Biological Research). The screen found it by filing SHAPE instead — S-1 2020-10-14 → 8-A12B 2020-11-19 → 424B4 2020-11-23 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 8731 + self-described blank check in 424B4 0001104659-20-128486; 424B 0001104659-20-128486 priced 2020-11-23 under S-1 0001104659-20-114990 (file 333-249480, an offering for cash); common ticker LSAQ off 10-K 0001104659-21-110580 (2021-08-27); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-249480, which belongs to S-1 0001104659-20-114990 (2020-10-14) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2020-11-23). Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-24-000138 (2024-03-12) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Common Stock). EDGAR now files this CIK as "Science 37 Holdings, Inc." — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.

SPONSOR-ID2026-08-14

sponsor "LifeSci Holdings, LLC" sourced from prospectus definition (10-K/A) acc 0001410578-21-000567.

Deal — Science 37 Holdings, Inc.
UNTAGGED

[CLOSED-RENAME] EDGAR CIK 0001819113 records "Lifesci Acquisition II Corp." ending 2021-10-06; the registrant continues as "Science 37 Holdings, Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2021-10-06. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] pipeSizeM=200, terminationFeeM=1.4 from primary filings (0001104659-21-096507, 0001104659-24-007463).

PIPE2026-08-29

pipeBasis set to UNSOURCED: the size came from the research seed / an earlier record and no filing we hold states it — surfaces now label it "unsourced"; an LLM re-read to FILED replaces this when credits allow

SEGMENT-FROM-FILING2021-08-31

OTHER -> HEALTHCARE, on S-4/A 0001104659-21-111682: "Science 37 is a private company, no market exists for its securities, and Science 37 has an accumulated deficit."

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