Fate raises $40 million in IPO

Stem cell company Fate Therapeutics Inc. (NASDAQ:FATE) raised $40 million through the sale of 6.7 million shares at $6 in an IPO at the low end of its proposed range. The price valued the company at $114.3 million. On Monday, Fate amended the IPO to sell 6.7 million shares at $6-$8. The company filed to raise up to $69 million in the IPO in August. Cowen; BMO Capital Markets; and Wedbush are underwriters. Fate was up $0.62 (10%) to $6.62 on Tuesday, its first day of trading. ...