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home / articles / FATE - Fate Therapeutics Announces Pricing of $100 Million Underwritten Offering and Concurrent Private Placement | Benzinga


FATE - Fate Therapeutics Announces Pricing of $100 Million Underwritten Offering and Concurrent Private Placement | Benzinga

  • SAN DIEGO, March 19, 2024 (GLOBE NEWSWIRE) -- Fate Therapeutics, Inc. (the "Company" or "Fate Therapeutics") (NASDAQ:FATE), a clinical-stage biopharmaceutical company dedicated to bringing a first-in-class pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies to patients with cancer and autoimmune disorders, today announced the pricing of an underwritten offering of 14,545,454 shares of its common stock at an offering price of $5.50 per share. The offering includes participation from new and existing institutional investors, including Adage Capital Partners LP., Boxer Capital, Deep Track Capital, OrbiMed, Suvretta Capital and a life-sciences focused investor.

    In addition, the Company announced the pricing of a concurrent private placement of pre-funded warrants to purchase 3,636,364 shares of its common stock at a purchase price of $5.499 per pre-funded warrant, which represents the offering price per share of common stock less the $0.001 exercise price per share of each pre-funded warrant, to certain institutional and other accredited investors affiliated with or managed by Redmile Group, LLC.

    The gross proceeds from the underwritten offering and private placement are expected to be approximately $100.0 million before deducting underwriting discounts and commissions and other offering expenses. BofA Securities, Jefferies, and Leerink Partners are acting as the joint bookrunning managers for the underwritten offering.

    All of the shares and pre-funded warrants are to be sold by the Company. The financing is expected to close on or about March 21, 2024, subject to customary closing conditions.

    The Company intends to use the net proceeds from the underwritten offering and concurrent private placement for funding clinical trials and nonclinical studies of the Company's product candidates, manufacturing expenses associated with the development of the Company's product candidates, the conduct of preclinical research and development, and for other working capital and general corporate purposes.

    A shelf registration statement on Form S-3 (File No. ...

    Full story available on Benzinga.com

  • Stock Information

    Company Name: Fate Therapeutics Inc.
    Stock Symbol: FATE
    Market: NASDAQ
    Website: fatetherapeutics.com

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