Leerink Partners, BMO Capital Markets bookrunners for public offering
By Devika Patel
Knoxville, Tenn., May 27 – Fate Therapeutics, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $4.5 million greenshoe in full, lifting total proceeds of the offering to $34.5 million. The deal was announced May 18 and priced for $30 million with the greenshoe on May 21.
The company sold 6.9 million common shares at $5.00 per share. The price per share is a 22.24% discount to the May 19 closing share price of $6.43. Of the shares, 900,000 were part of the fully exercised greenshoe.
Leerink Partners LLC and BMO Capital Markets Corp. were the bookrunners.
Proceeds will be used for clinical development and research, working capital and other general corporate purposes.
Fate is a clinical-stage biopharmaceutical company engaged in the development of programmed cellular therapeutics for the treatment of severe, life-threatening diseases. It is based in San Diego.
| Issuer: | Fate Therapeutics, Inc.
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| Issue: | Common stock
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| Amount: | $34.5 million, including $4.5 million greenshoe of 900,000 shares
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| Shares: | 6.9 million
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| Price: | $5.00
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| Warrants: | No
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| Bookrunners: | Leerink Partners LLC and BMO Capital Markets Corp.
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| Co-managers: | Wedbush Securities Inc. and H.C. Wainwright & Co., LLC
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| Announcement date: | May 18
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| Pricing date: | May 20
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| Settlement date: | May 27
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| Stock symbol: | Nasdaq: FATE
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| Stock price: | $6.43 at close May 19
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| Market capitalization: | $119.34 million
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