SEC Form SC 13G filed by Fate Therapeutics Inc.

2/12/24 6:06:00 PM ET

$FATE

Biotechnology: Biological Products (No Diagnostic Substances)

Health Care

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SC 13G 1 ff3013867_13g-fate.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G
Under the Securities Exchange Act of 1934

Fate Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

31189P102

(CUSIP Number)

January 31, 2024

(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☒ Rule 13d-1(c)

☐ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 31189P102

13G

1	NAMES OF REPORTING PERSONS
	Boxer Capital, LLC

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☒
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
			0

		6	SHARED VOTING POWER
			6,171,000

		7	SOLE DISPOSITIVE POWER
			0

		8	SHARED DISPOSITIVE POWER
			6,171,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	6,171,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.3%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	OO

CUSIP No. 31189P102

13G

1	NAMES OF REPORTING PERSONS
	Boxer Asser Management Inc.

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☒
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Bahamas

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
			0

		6	SHARED VOTING POWER
			6,171,000

		7	SOLE DISPOSITIVE POWER
			0

		8	SHARED DISPOSITIVE POWER
			6,171,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	6,171,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.3%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	CO

CUSIP No. 31189P102

13G

1	NAMES OF REPORTING PERSONS
	Joe Lewis

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☒
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	United Kingdom

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
			0

		6	SHARED VOTING POWER
			6,171,000

		7	SOLE DISPOSITIVE POWER
			0

		8	SHARED DISPOSITIVE POWER
			6,171,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	6,171,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.3%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

CUSIP No. 31189P102

13G

1	NAMES OF REPORTING PERSONS
	MVA Investors, LLC

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☒
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
			0

		6	SHARED VOTING POWER
			290,000

		7	SOLE DISPOSITIVE POWER
			0

		8	SHARED DISPOSITIVE POWER
			290,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	290,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	0.3%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	CO

CUSIP No. 31189P102

13G

1	NAMES OF REPORTING PERSONS
	Aaron I. Davis

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☒
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States of America

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
			0

		6	SHARED VOTING POWER
			290,000

		7	SOLE DISPOSITIVE POWER
			0

		8	SHARED DISPOSITIVE POWER
			290,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	290,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	0.3%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

Item 1. (a)	Name of Issuer

	The name of the issuer is Fate Therapeutics, Inc. (the “Issuer”).

Item 1. (b)	Address of Issuer’s Principal Executive Offices

	The Issuer’s principal executive offices are located at 12278 Scripps Summit Drive, San Diego, CA 92131.

Item 2. (a)	Name of Person Filing

	This Schedule 13G is jointly filed by Boxer Capital, LLC (“Boxer Capital”), Boxer Asset Management Inc. (“Boxer Management”), Joe Lewis, MVA Investors, LLC (“MVA Investors”) and Aaron I. Davis (collectively, the “Reporting Persons”). Boxer Management is the managing member and majority owner of Boxer Capital. Joe Lewis is the sole indirect beneficial owner of and controls Boxer Management. MVA Investors is the independent, personal investment vehicle of certain employees of Boxer Capital. Aaron I. Davis is a member of and has voting and dispositive power over securities held by MVA Investors.

Item 2. (b)	Address of Principal Business Office or, if None, Residence

	The principal business address of Boxer Capital, MVA Investors and Aaron I. Davis is: 12860 El Camino Real, Suite 300, San Diego, CA 92130. The principal business address of Boxer Management and Joe Lewis is: Cay House, EP Taylor Drive N7776, Lyford Cay, New Providence, Bahamas.

Item 2. (c)	Citizenship

	Boxer Capital and MVA Investors are limited liability companies organized under the laws of Delaware. Boxer Management is a corporation organized under the laws of the Bahamas. Joe Lewis is a citizen of the United Kingdom. Aaron I. Davis is a citizen of the United States of America.

Item 2. (d)	Title of Class of Securities

	Common Stock, $0.001 par value per share (“Common Stock”).

Item 2. (e)	CUSIP Number

	The CUSIP number for the Common Stock is 31189P102.

Item 3.	If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:

	Not Applicable.

Item 4.	Ownership

	(a)	Amount beneficially owned:

	Boxer Capital, Boxer Management and Joe Lewis beneficially own 6,171,000 shares of Common Stock. MVA Investors and Aaron I. Davis beneficially own 290,000 shares of Common Stock. The Reporting Persons beneficially own, in the aggregate, 6,461,000 shares of Common Stock.

	(b)	Percent of class:

	All percentages of beneficial ownership set forth herein are based on 98,601,966 shares of Common Stock reported outstanding on October 31, 2023 in the Quarterly Report on Form 10-Q filed by the Issuer with the Securities and Exchange Commission on November 8, 2023. The number of shares of Common Stock beneficially owned by the Reporting Persons in the aggregate represent 6.6% of the Issuer’s outstanding shares of Common Stock.

	(c)	Number of shares as to which such person has:

		(i) Sole power to vote or to direct the vote:

			None of the Reporting Persons has sole power to vote or to direct the vote of any shares of Common Stock.

		(ii) Shared power to vote or to direct the vote:

			Boxer Capital, Boxer Management and Joe Lewis have shared power to vote or to direct the vote of 6,171,000 shares of Common Stock. MVA Investors and Aaron I. Davis have shared power to vote or to direct the vote of 290,000 shares of Common Stock.

		(iii) Sole power to dispose or to direct the disposition of:

			None of the Reporting Persons has sole power to dispose or to direct the disposition of any shares of Common Stock.

		(iv) Shared power to dispose or to direct the disposition of:

			Boxer Capital, Boxer Management and Joe Lewis have shared power to dispose or to direct the disposition of 6,171,000 shares of Common Stock. MVA Investors and Aaron I. Davis have shared power to dispose or to direct the disposition of 290,000 shares of Common Stock.

Item 5.	Ownership of Five Percent or Less of a Class

	Not Applicable.

Item 6.	Ownership of More than Five Percent on Behalf of Another Person

	Other than as may result from indirect interests of investors in Boxer Capital and MVA Investors, no persons other than the Reporting Persons have the right to receive or the

	power to direct the receipt of dividends, or proceeds of sale of the securities disclosed herein.

Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company

	Not Applicable.

Item 8.	Identification and Classification of Members of the Group

	Not Applicable.

Item 9.	Notice of Dissolution of Group

	Not Applicable.

Item 10.	Certification

	By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

Exhibits
1	Joint Filing Agreement, dated February 12, 2024, among the Reporting Persons.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 12, 2024

BOXER CAPITAL, LLC

By:	/s/ Aaron I. Davis
	Name:	Aaron I. Davis
	Title:	Authorized Signatory

BOXER ASSET MANAGEMENT INC.

By:	/s/ Paul Higgs
	Name:	Paul Higgs
	Title:	Director

JOSEPH C. LEWIS

/s/ Joseph C. Lewis
Joseph C. Lewis, Individually

MVA INVESTORS, LLC

By:	/s/ Aaron I. Davis
	Name:	Aaron I. Davis
	Title:	Authorized Signatory

AARON I. DAVIS

/s/ Aaron I. Davis
Aaron I. Davis, Individually

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Date	Price Target	Rating	Analyst
11/18/2024		Underperform → Neutral	BofA Securities
6/17/2024	$4.00 → $6.00	Neutral → Overweight	Piper Sandler
3/27/2023	$6.00	Equal Weight	Wells Fargo
1/24/2023	$115.00 → $7.00	Buy → Neutral	H.C. Wainwright
1/6/2023	$20.00 → $7.00	Outperform → Market Perform	BMO Capital Markets
1/6/2023	$71.00 → $12.00	Overweight → Neutral	Piper Sandler
1/6/2023		Outperform → Market Perform	Cowen
1/6/2023	$107.00 → $5.30	Buy → Hold	Stifel

SEC Form SC 13G filed by Fate Therapeutics Inc.

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Recent Analyst Ratings for
$FATE

SEC Form SC 13G filed by Fate Therapeutics Inc.

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Recent Analyst Ratings for $FATE

Recent Analyst Ratings for
$FATE