10:44 AM EDT, 03/19/2024 (MT Newswires) -- Fate Therapeutics ( FATE ) said Tuesday it has priced an underwritten offering of about 14.5 million shares at $5.50 per share.

The company also priced a concurrent private placement of pre-funded warrants to buy about 3.6 million shares at $5.499 per pre-funded warrants.

Gross proceeds from the offering and private placement are estimated to be about $100 million, the company said.

Net proceeds from the financing, which is set to close around March 21, are expected to be used to back clinical and nonclinical studies, for research and development projects, as well as for working capital and general corporate purposes.

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