Fate Therapeutics Announces Completion of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purc...
September 25 2018 - 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 10,648,149 shares of its common stock, which included
1,388,889 shares that were issued pursuant to the full exercise of
the underwriters’ option to purchase additional shares, at a public
offering price of $13.50 per share. Aggregate gross proceeds from
this offering, including exercise of the option, were approximately
$143.8 million, prior to deducting underwriting discounts and
commissions and estimated offering expenses. Fate Therapeutics
intends to use the net proceeds from the offering to fund clinical
trials and nonclinical studies, the manufacture of clinical product
candidates and the conduct of preclinical research and development,
and for general corporate purposes.
Jefferies, Piper Jaffray, and Wells Fargo Securities acted as
joint book-running managers for the offering. Wedbush PacGrow 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.
333-224680) 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
September 21, 2018 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 by contacting Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, by e-mail at prospectus_department@jefferies.com or
by telephone at (877) 821-7388; Piper Jaffray & Co., 800
Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention: Prospectus
Department, by e-mail at prospectus@pjc.com or by telephone at
(800) 747-3924; or Wells Fargo Securities, LLC, Attention: Equity
Syndicate Department, 375 Park Avenue, New York, New York 10152, by
email at cmclientsupport@wellsfargo.com or by telephone at (800)
326-5897.
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 first-in-class cellular
immunotherapies for cancer and immune disorders. The Company is
pioneering the development of off-the-shelf cell products using its
proprietary induced pluripotent stem cell (iPSC) product platform.
The Company’s immuno-oncology pipeline is comprised of FATE-NK100,
a donor-derived natural killer (NK) cell cancer immunotherapy that
is currently being evaluated in three Phase 1 clinical trials, as
well as iPSC-derived NK cell and T-cell immunotherapies, with a
focus on developing augmented cell products intended to synergize
with checkpoint inhibitor and monoclonal antibody therapies and to
target tumor-specific antigens. The Company’s immuno-regulatory
pipeline includes ProTmune™, a next-generation donor cell graft
that is currently being evaluated in a Phase 2 clinical trial for
the prevention of graft-versus-host disease, and a myeloid-derived
suppressor cell immunotherapy for promoting immune tolerance in
patients with immune disorders.
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 forward-looking statements speak only as
of the date of this press release and are subject to a number of
risks, uncertainties and assumptions, including the risks and
uncertainties associated with market conditions, as well as risks
and uncertainties inherent in Fate Therapeutics’ business,
including those described in the company's periodic filings with
the SEC. The events and circumstances reflected in the company's
forward-looking statements may not be achieved or occur and actual
results could differ materially from those projected in the
forward-looking statements. Additional information on risks facing
Fate Therapeutics can be found under the heading “Risk Factors” in
Fate Therapeutics’ periodic reports, including its annual report on
Form 10-K for the year ended December 31, 2017, its quarterly
reports on Form 10-Q for the quarters ended March 31, 2018 and June
30, 2018, and in the final prospectus supplement related to the
proposed offering to be filed with the SEC on or about the date
hereof, each available on the SEC's web site at www.sec.gov. Except
as required by applicable law, the company does not plan to
publicly update or revise any forward-looking statements contained
herein, whether as a result of any new information, future events,
changed circumstances or otherwise.
Contact:Christina Tartaglia Stern
Investor Relations, Inc. 212.362.1200christina@sternir.com
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