Frazier Life Sciences II: Deep Track reports 8.97%

The reported 700,000-share position represents 8.97% against 7,800,000 Class A shares outstanding as of October 15, 2026.

Rhea-AI Filing Summary

Frazier Life Sciences Acquisition Corp. II Class A ordinary shares are the subject of a Schedule 13G ownership report filed jointly by Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., David Kroin and Deep Track Special Opportunities Fund, LP. Deep Track Capital and David Kroin each report beneficial ownership of 700,000 shares (8.97%), with shared voting and dispositive power over 700,000 shares. Deep Track Biotechnology Master Fund reports 503,090 shares (6.45%), and Deep Track Special Opportunities Fund reports 196,910 shares (2.52%); each fund reports shared voting and dispositive power over its respective amount.

The ownership information is as of October 21, 2026. The percentage calculations use 7,800,000 Class A ordinary shares outstanding as of October 15, 2026. The report identifies Deep Track Capital as the relevant entity for which David Kroin may be considered a control person.

Key Figures

Beneficial ownership: 700,000 shares Percent of class: 8.97% Beneficial ownership: 503,090 shares +4 more

7 metrics

Beneficial ownership 700,000 shares Reported by Deep Track Capital, LP and David Kroin; ownership information as of October 21, 2026

Percent of class 8.97% Reported by Deep Track Capital, LP and David Kroin

Beneficial ownership 503,090 shares Reported by Deep Track Biotechnology Master Fund, Ltd.; ownership information as of October 21, 2026

Percent of class 6.45% Reported by Deep Track Biotechnology Master Fund, Ltd.

Beneficial ownership 196,910 shares Reported by Deep Track Special Opportunities Fund, LP; ownership information as of October 21, 2026

Percent of class 2.52% Reported by Deep Track Special Opportunities Fund, LP

Class A ordinary shares outstanding 7,800,000 shares As of October 15, 2026; used for the beneficial ownership percentage calculations

Key Terms

beneficially owned, Shared Voting Power, Shared Dispositive Power, control person

4 terms

beneficially owned regulatory

"Amount beneficially owned: 700,000"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared Voting Power regulatory

"Shared Voting Power 700,000.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared Dispositive Power regulatory

"Shared Dispositive Power 700,000.00"

control person regulatory

"David Kroin may be considered a control person"

A control person is an individual or entity that can significantly influence a company’s decisions and direction through ownership, voting power, or contractual rights—think of them as the captain who can steer the ship. Investors care because a control person’s choices affect corporate strategy, board appointments, and transactions that can raise or lower a stock’s value, and they often carry additional legal responsibilities and disclosure requirements to protect other shareholders.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many FLSC shares did the reporting persons report owning?

Deep Track Capital, LP and David Kroin each reported beneficial ownership of 700,000 Class A ordinary shares (8.97%). Deep Track Biotechnology Master Fund, Ltd. reported 503,090 shares (6.45%), and Deep Track Special Opportunities Fund, LP reported 196,910 shares (2.52%). The ownership information is as of October 21, 2026.

Did any FLSC reporting person have sole voting or dispositive power?

No. Deep Track Capital, Deep Track Biotechnology Master Fund, David Kroin and Deep Track Special Opportunities Fund each reported zero sole voting power and zero sole dispositive power. They reported shared voting and dispositive power over 700,000, 503,090, 700,000 and 196,910 shares, respectively.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/21/2026 - 04:21 PM EDT Accepted by SEC EDGAR 10/21/2026 - 04:15 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Frazier Life Sciences Acquisition Corp. II

(Name of Issuer)

Class A Ordinary Shares

(Title of Class of Securities)

G37103101

(CUSIP Number)

10/14/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G37103101

1

Names of Reporting Persons

Deep Track Capital, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 700,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 700,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

700,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.97 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP Number(s): G37103101

1

Names of Reporting Persons

Deep Track Biotechnology Master Fund, Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 503,090.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 503,090.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

503,090.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.45 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP Number(s): G37103101

1

Names of Reporting Persons

David Kroin

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 700,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 700,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

700,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.97 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): G37103101

1

Names of Reporting Persons

Deep Track Special Opportunities Fund, LP.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 196,910.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 196,910.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

196,910.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.52 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Frazier Life Sciences Acquisition Corp. II
(b)	Address of issuer's principal executive offices: 1001 Page Mill Road, Building 4, Suite 200B, Palo Alto, CA 93404
Item 2.
(a)	Name of person filing: (i) Deep Track Capital, LP (ii) Deep Track Biotechnology Master Fund, Ltd. (iii) David Kroin (iv) Deep Track Special Opportunities Fund, LP.
(b)	Address or principal business office or, if none, residence: (i) 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830 (ii) c/o Walkers Corporate Limited, 190 Elgin Ave, George Town, KY1-9001, Cayman Islands (iii) c/o Deep Track Capital, LP, 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830 (iv) c/o Deep Track Capital, LP, 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830
(c)	Citizenship: (i) Delaware (ii) Cayman Islands (iii) United States (iv) Delaware
(d)	Title of class of securities: Class A Ordinary Shares
(e)	CUSIP Number(s): G37103101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 700,000
(b)	Percent of class: 8.97%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 700,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 700,000
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Deep Track Capital, LP is the relevant entity for which David Kroin may be considered a control person.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Deep Track Capital, LP

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Managing Member of the General Partner of the Investment Adviser
Date:	10/21/2026

Deep Track Biotechnology Master Fund, Ltd.

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Director
Date:	10/21/2026

David Kroin

Signature:	/s/ David Kroin
Name/Title:	David Kroin
Date:	10/21/2026

Deep Track Special Opportunities Fund, LP.

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Managing Member of the General Partner of the Investment Adviser of Deep Track Special Opportunities Fund, LP
Date:	10/21/2026

Exhibit Information

Item 4: Information with respect to the Reporting Persons' ownership of the Class A Ordinary Shares as of October 21, 2026, is incorporated by reference to items (5) - (9) and (11) of the cover page of the respective Reporting Person. The amount beneficially owned by each Reporting Person is determined using 7,800,000 Class A Ordinary Shares outstanding as of October 15, 2026, as reported by the issuer on its 8-K filed with the SEC on October 15, 2026. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: October 21, 2026 Deep Track Capital, LP By: /s/ David Kroin David Kroin, Managing Member of the General Partner of the Investment Adviser Deep Track Biotechnology Master Fund, Ltd. By: /s/ David Kroin David Kroin, Director David Kroin By: /s/ David Kroin David Kroin Deep Track Special Opportunities Fund, LP. By: /s/ David Kroin David Kroin, Managing Member of the General Partner of the Investment Adviser of Deep Track Special Opportunities Fund, LP