Cowen and BMO are the joint bookrunners; Wedbush Securities assists
By Devika Patel
Knoxville, Tenn., Oct. 4 - Fate Therapeutics, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $6 million greenshoe in full for total proceeds of $46 million. The deal was announced Aug. 14 and priced for $40 million with the greenshoe on Oct. 1.
The company sold 7,666,667 common shares at $6.00 per share. Of the shares, 1 million were part of the fully exercised greenshoe.
Cowen and Co., LLC and BMO Capital Markets Corp. were the joint bookrunning managers.
Proceeds will be used for research and development activities, working capital and general corporate purposes.
The clinical-stage biopharmaceutical company is based in San Diego. The company intends to list its common stock on the Nasdaq under the symbol "FATE."
| Issuer: | Fate Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $46 million (including $6 million greenshoe)
|
| Shares: | 7,666,667
|
| Price: | $6.00
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co., LLC and BMO Capital Markets Corp.
|
| Co-manager: | Wedbush Securities Inc.
|
| Announcement date: | Aug. 14
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 4
|
| Stock exchange: | Nasdaq: FATE
|
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