Fate Therapeutics prices $100M equity offering and private placement

FATE THERAPEUTICS INC

Underwritten offering of 14,545,454 shares at $5.50/share; net proceeds ~$74.7M.
Concurrent private placement of pre-funded warrants to Redmile for ~$20M at $5.499/warrant.
Total gross proceeds ~$100M; expected close March 21, 2024.
Net proceeds to fund clinical trials, manufacturing, and working capital.
BofA Securities, Jefferies, Leerink Partners act as joint bookrunners.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FATE THERAPEUTICS INC entered into Underwriting Agreement with BofA Securities, Inc., Jefferies LLC and Leerink Partners LLC valued at $74.7 million (effective 2024-03-19).

Action: entry
Agreement: underwriting
Counterparty: BofA Securities, Inc., Jefferies LLC and Leerink Partners LLC
Value: $74.7 million
Effective: 2024-03-19

Exact text from the filing

On March 19, 2024, Fate Therapeutics, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc., Jefferies LLC and Leerink Partners LLC, as representatives of the several underwriters (the “Underwriters”), pursuant to which the Company agreed to issue and sell 14,545,454 shares of the Company’s common stock, par value $0.001 per share (the “Shares”), at an offering price of $5.50 per Share (the “Offering”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FATE THERAPEUTICS INC entered into Securities Purchase Agreement with a fund affiliated with Redmile Group, LLC valued at approximately $20.0 million (effective 2024-03-19).

Action: entry
Agreement: equity purchase
Counterparty: a fund affiliated with Redmile Group, LLC
Value: approximately $20.0 million
Effective: 2024-03-19

Exact text from the filing

On March 19, 2024, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with a fund affiliated with Redmile Group, LLC (collectively, “Redmile”).

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FATE THERAPEUTICS INC filing history →

Source: SEC EDGAR

accession 0001193125-24-072871

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