On October 29, 2020, Forte Biosciences, a clinical-stage biopharmaceutical company, announced the pricing of an underwritten public offering of 1,403,509 shares of its common stock at a price to the public of $28.50 per share. In addition, Forte has granted the underwriters a 30-day option to purchase up to an additional 210,256 shares of common stock at the public offering price, less underwriting discounts and commissions. Wilson Sonsini Goodrich & Rosati provided corporate and intellectual property counsel to Forte Biosciences on the transaction.

According to the press release, Forte intends to use the net proceeds of the offering for working capital and general corporate purposes, which include, but are not limited to, the funding of clinical development of, and pursuing regulatory approval for, its product candidates, and general and administrative expenses. The aggregate gross proceeds from the offering are expected to be approximately $40 million, before deducting the underwriting discounts and commissions and offering expenses payable by Forte and excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about November 2, 2020, subject to customary closing conditions. 

The Wilson Sonsini team advising Forte Biosciences includes the following attorneys:

Corporate
Dan Koeppen, Partner
Tom Hornish, Senior Counsel
Benjamin Capps, Associate
Brandon Shaw, Venture Counsel

Intellectual Property
Michael Hostetler, Partner

Please see Forte’s press release for more information.