Indication intelligence, analysis and sector perception

Fate Therapeutics (FATE), a $13.30 preferred combined with a $2.66 per share private placement for proceeds of $57 M

November 22, 2016 8:37am

The private placement is being led by Redmile Group LLC with participation from BVF Partners L.P., EcoR1 Capital LLC and Franklin Advisers, Inc. as well as certain individual investors including members of the FATE’s Board of Directors.

FATE does it again ...

Redmile has agreed to purchase 2,819,549 shares of non-voting Class A Preferred Stock at $13.30 per share, each of which is convertible into five shares of common stock upon certain conditions.

The remaining investors have agreed to purchase 7,236,837 shares of common stock at $2.66 per share. The purchase and sale is expected to close on or about November 23, 2016, subject to customary closing conditions.

The Bottom Line: Gross proceeds from the private placement are expected to be approximately $57 M dollars – the number speaks for itself …

Leerink Partners LLC acted as the exclusive placement agent to FATE in connection with the private financing.

35 companies, 1 interpreter!

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