Fate Therapeutics (FATE) Announces Proposed $350M Share Common Offering

Fate Therapeutics Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorders, today announced that it has commenced an underwritten public offering of $350 million of shares of common stock. Fate Therapeutics intends to use the net proceeds from the offering to fund 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. In connection with the offering, Fate Therapeutics expects to grant the underwriters a 30-day option to purchase up to an additional $52.5 million of shares of common stock offered in the public offering. All shares of common stock to be sold in the offering will be offered by Fate Therapeutics. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Jefferies, BofA Securities, SVB Leerink and Barclays are acting as joint book-running managers for the offering.

The securities described above are being offered by Fate Therapeutics pursuant to an automatic shelf registration statement on Form S-3 (File No. 333-228513) that was previously filed by Fate Therapeutics with the Securities and Exchange Commission (the “SEC”) and automatically became effective upon filing on November 21, 2018.

You May Also Be Interested In

• Singularity Future Technology closes $5M registered direct offering
• Kairos Pharma announces 1-for-7 reverse stock split
• EShallGo closes $1.75M registered direct offering at $1 per share