Fate Therapeutics Announces Pricing of Public Offering of Common Stock
December 13 2017 - 08:00AM
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 the pricing of an underwritten public
offering of 9,525,000 shares of its common stock at a public
offering price of $4.20 per share, before underwriting discounts,
for an aggregate offering of $40.0 million. Fate Therapeutics
has granted the underwriters a 30-day option to purchase up to an
additional 1,428,750 shares of its common stock. The proceeds
to Fate Therapeutics from this offering are expected to be
approximately $37.3 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 for clinical
development and research activities, working capital and other
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 December 15, 2017,
subject to customary closing conditions.
Leerink Partners LLC and Piper Jaffray & Co. are acting as
joint book-running managers for the offering. Wedbush
Securities Inc. is acting as a co-manager for the offering.
The securities described above are being offered by Fate
Therapeutics pursuant to a shelf registration statement on Form S-3
(File No. 333-219987) previously filed with and declared effective
by the Securities and Exchange Commission (the “SEC”). The
securities may be offered only by means of a prospectus. A
preliminary prospectus supplement related to the offering was filed
with the SEC on December 12, 2017 and is available on the SEC's
website at http://www.sec.gov and a final prospectus supplement
related to the offering will be filed with the SEC and will be
available on the SEC's website at http://www.sec.gov. Copies
of the final prospectus supplement and the accompanying prospectus
for the securities being offered may also be obtained, when
available, from Leerink Partners LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston,
MA 02110, or by email at syndicate@leerink.com, or by
phone at (800) 808‐7525, ext. 6132; or from Piper Jaffray &
Co., 800 Nicollet Mall, J12S03, Minneapolis, MN, 55402, Attention:
Prospectus Department, by telephone at (800) 747-3924 or by email
at emailprospectus@pjc.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Fate Therapeutics, Inc.Fate
Therapeutics is a clinical-stage biopharmaceutical company
dedicated to the development of programmed cellular immunotherapies
for cancer and immune disorders. The Company's hematopoietic cell
therapy pipeline is comprised of NK- and T-cell immuno-oncology
programs, including off-the-shelf product candidates derived from
engineered induced pluripotent cell lines, and immuno-regulatory
programs, including product candidates to prevent life-threatening
complications in patients undergoing hematopoietic cell
transplantation and to promote immune tolerance in patients with
autoimmune disease.
Forward-Looking StatementsThis
release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, including
statements regarding Fate Therapeutics’ expectations with respect
to the offering described in this press release, including its
ability to complete the offering and its expected and intended use
of proceeds from the offering. These and any other
forward-looking statements in this release are based on
management's current expectations of future events and are subject
to a number of risks and uncertainties that could cause actual
results to differ materially and adversely from those set forth in
or implied by such forward-looking statements. These risks
and uncertainties include, but are not limited to, the risks and
uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
proposed offering, as well as risks and uncertainties detailed in
the Company’s periodic filings with the Securities and Exchange
Commission, including but not limited to the Company’s Form 10-Q
for the quarter ended September 30, 2017, and from time to time the
Company’s other investor communications. Fate Therapeutics is
providing the information in this release as of this date and does
not undertake any obligation to update any forward-looking
statements contained in this release as a result of new
information, future events or otherwise, except to the extent
required by law.
Contact: Christina Tartaglia Stern
Investor Relations, Inc. 212.362.1200 christina@sternir.com
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