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Fate Therapeutics closes common stock offering

Fate Therapeutics Inc. closed its underwritten public offering of 10,953,750 common shares at $4.20 apiece with gross proceeds of about $42.9 million.

The shares sold included the full exercise of the underwriters' option to buy 1,428,750 additional shares.

Net proceeds will be used for clinical development and research activities, working capital and other general corporate purposes.

Leerink Partners LLC and Piper Jaffray & Co. acted as joint book-running managers for the offering. Wedbush Securities Inc. acted as a co-manager for the offering.