Fate to price initial public sale of stock between $6.00 and $8.00

Cowen and BMO are the joint bookrunners; Wedbush PacGrow will assist

By Devika Patel

Knoxville, Tenn., Sept. 30 - Fate Therapeutics, Inc. will price its initial public offering of stock between $6.00 and $8.00 per share, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced Aug. 14 and was previously set to price between $14.00 and $16.00 per share.

The company will sell 6,666,667 common shares in its initial public sale with a 30-day over-allotment option of an additional 1 million shares. It previously planned to sell 4 million shares, with a greenshoe of 600,000 shares.

Cowen and Co. and BMO Capital Markets are the joint bookrunning managers. Wedbush PacGrow Life Sciences is the co-manager.

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."

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