Fate Therapeutics Prices IPO At $6.00/shr, Low End Of Revised Range

(RTTNews) - Fate Therapeutics, Inc. (FATE), a biopharmaceutical company engaged in the discovery and development of adult stem cell modulators to treat orphan diseases, announced that it has priced its initial public offering of about 6.67 million shares of its common stock price to the public of $6.00 per share, before underwriting discounts, which is the low end of the revised range of $6.00 to $8.00.

The shares are scheduled to begin trading on The NASDAQ Global Market under the ticker symbol "FATE" on October 1, 2013.

In addition, Fate has granted the underwriters a 30-day option to purchase up to an additional 1.00 million shares of common stock at the same price. The offering is expected to close on October 4, 2013, subject to customary closing conditions.

Initially, the company had planned to offer 4.00 million shares in the range of $14.00 -$16.00 per share.