Fate Therapeutics (FATE) Prices 8.6M Share Offering at $17.50/Sh

Fate Therapeutics, Inc. (NASDAQ: FATE) today announced the pricing of an underwritten public offering of 8,600,000 shares of its common stock at a public offering price of $17.50 per share, before underwriting discounts, for an aggregate offering of approximately $150.5 million. Fate Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,290,000 shares of its common stock. The proceeds to Fate Therapeutics from this offering are expected to be approximately $141.2 million after deducting underwriting discounts and commissions and other estimated offering expenses but excluding any exercise of the underwriters’ option. Fate Therapeutics intends to use the net proceeds from the offering to fund clinical trials and nonclinical studies, the manufacture of its clinical product candidates, the expansion of its cGMP compliant manufacturing operations, the conduct of preclinical research and development, and for general corporate purposes. All shares of common stock to be sold in the offering are being offered by Fate Therapeutics. The offering is expected to close on or about September 16, 2019, subject to customary closing conditions.

Jefferies, Citigroup, SVB Leerink and Wells Fargo Securities are acting as joint book-running managers for the offering. Wedbush PacGrow and Cantor Fitzgerald & Co. are acting as co-managers for the offering.

You May Also Be Interested In

• Cantor Fitzgerald Starts Nuvation Bio Inc (NUVB) at Overweight
• Nuvectis Pharma (NVCT) files $200M mixed shelf
• Citigroup set to join top banks in Anthropic IPO - Bloomberg