FATE - Fate Therapeutics under pressure on underwritten public offering

Fate Therapeutics (FATE) commenced an underwritten public offering of $350M of shares.Net proceeds to be used for funding clinical trials and nonclinical studies of its product candidates, the manufacture of its clinical product candidates, the expansion of its cGMP compliant manufacturing operations, including the construction, commissioning and qualification of its new facility, the conduct of preclinical research and development, and for general corporate purposes.Underwriters granted 30-day option to purchase up to an additional $52.5M of shares.Actual size, offer terms not yet disclosed.Shares trading -5.2% after hours.

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Fate Therapeutics under pressure on underwritten public offering