Fate Therapeutics Inc. said it is looking to raise $150.5 million via an underwritten public offering of ordinary shares.
The San Diego-based biotechnology company, which develops programmed cellular immunotherapies for cancer, is selling 8.6 million shares at $17.50 each.
Jefferies, Citigroup, SVB Leerink and Wells Fargo Securities are acting as joint book-running managers for the offering, while Wedbush PacGrow and Cantor Fitzgerald & Co. are acting as co-managers.
The offering is expected to close around Sept. 16. Underwriters will get a 30-day option to buy up to an additional 1,290,000 shares.
The company will use the funds to advance its product candidates to treat cancer.
