Fate Therapeutics Announces Completion of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purc...
December 15 2017 - 4:01PM
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 closing of an underwritten public
offering of 10,953,750 shares of its common stock, which included
1,428,750 shares that were issued pursuant to the full exercise of
the underwriters’ option to purchase additional shares, at a public
offering price of $4.20 per share. Net proceeds from this
offering were approximately $42.9 million, after deducting
underwriting discounts and commissions and estimated offering
expenses. Fate Therapeutics intends to use the net proceeds
from the offering for clinical development and research activities,
working capital and other general corporate purposes.
Leerink Partners LLC and Piper Jaffray & Co. acted as joint
book-running managers for the offering. Wedbush Securities
Inc. acted as a co-manager for the offering.
The securities described above were 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”). A final
prospectus supplement related to the offering was filed with the
SEC on December 13, 2017 and is available on the SEC's website at
http://www.sec.gov. Copies of the final prospectus supplement and
the accompanying prospectus relating to the securities offered may
also be obtained 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 engaged
in 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. Fate Therapeutics is headquartered in San
Diego, CA.
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’ 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, 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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