Korro Bio, Inc. Files 8-K: Material Agreement & Equity Sales
Ticker: KRRO · Form: 8-K · Filed: Apr 18, 2024 · CIK: 1703647
| Field | Detail |
|---|---|
| Company | Korro Bio, Inc. (KRRO) |
| Form Type | 8-K |
| Filed Date | Apr 18, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.001, $56.00, $70.0 million, $166.4 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, equity-sale, filing
TL;DR
Korro Bio filed an 8-K on 4/17/24 detailing a material agreement and equity sales.
AI Summary
Korro Bio, Inc. announced on April 17, 2024, that it entered into a material definitive agreement. The company also disclosed unregistered sales of equity securities and provided a Regulation FD disclosure. The filing includes financial statements and exhibits.
Why It Matters
This 8-K filing indicates significant corporate activity for Korro Bio, Inc., including a new material agreement and equity transactions, which could impact its financial standing and strategic direction.
Risk Assessment
Risk Level: medium — The filing involves a material definitive agreement and unregistered sales of equity, which can introduce financial and regulatory risks.
Key Numbers
- 001-39062 — SEC File Number (Identifies Korro Bio's filings with the SEC.)
- 47-2324450 — IRS Employer Identification No. (Tax identification number for Korro Bio.)
Key Players & Entities
- Korro Bio, Inc. (company) — Registrant
- Frequency Therapeutics, Inc. (company) — Former Company Name
- April 17, 2024 (date) — Date of earliest event reported
- 001-39062 (other) — SEC File Number
- 47-2324450 (other) — IRS Employer Identification No.
FAQ
What is the nature of the material definitive agreement entered into by Korro Bio, Inc. on April 17, 2024?
The filing does not specify the details of the material definitive agreement, only that one was entered into on April 17, 2024.
What type of equity securities were sold by Korro Bio, Inc. under the unregistered sales disclosure?
The filing mentions 'Unregistered Sales of Equity Securities' but does not provide specific details about the type or amount of securities sold.
What is the primary business of Korro Bio, Inc. according to the SIC code?
Korro Bio, Inc. is classified under 'PHARMACEUTICAL PREPARATIONS' with SIC code 2834.
When did Korro Bio, Inc. change its name from Frequency Therapeutics, Inc.?
Korro Bio, Inc. changed its name from Frequency Therapeutics, Inc. on April 12, 2017.
Where is Korro Bio, Inc. headquartered?
Korro Bio, Inc. is headquartered at One Kendall Square, Building 600-700, Suite 6-401, Cambridge, MA 02139.
Filing Stats: 1,728 words · 7 min read · ~6 pages · Grade level 13.9 · Accepted 2024-04-18 08:40:56
Key Financial Figures
- $0.001 — ich registered Common stock, par value $0.001 per share KRRO The Nasdaq Capital M
- $56.00 — $0.001 per share at a purchase price of $56.00 per share. The private placement was le
- $70.0 million — eipt of gross proceeds of approximately $70.0 million in cash, before deducting placement age
- $166.4 million — th our existing cash and equivalents of $166.4 million as of December 31, 2023, will provide r
Filing Documents
- d803577d8k.htm (8-K) — 37KB
- d803577dex101.htm (EX-10.1) — 141KB
- d803577dex102.htm (EX-10.2) — 113KB
- d803577dex991.htm (EX-99.1) — 13KB
- 0001193125-24-100069.txt ( ) — 512KB
- krro-20240417.xsd (EX-101.SCH) — 3KB
- krro-20240417_lab.xml (EX-101.LAB) — 19KB
- krro-20240417_pre.xml (EX-101.PRE) — 12KB
- d803577d8k_htm.xml (XML) — 4KB
Forward-Looking Statements
Forward-Looking Statements Certain statements in this current report on Form 8-K and certain of the materials furnished or filed herewith may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statement include, but are not limited to, express or implied statements regarding our expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, express or implied statements regarding the private placement and intended use of proceeds. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would," "aim," "target," "commit," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward looking. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management's control including risks inherent in meeting closing conditions, and in biopharmaceutical development generally, such as risks associated with pre-clinical studies and clinical trials and other risks associated with obtaining regulatory approvals and protecting intellectual property; as well as other risks and uncertainties indicated from time to time in our filings with the SEC, including Item 1A. "Risk Factors" in our Annual Report on Form 10-K file
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KORRO BIO, INC. Date: April 18, 2024 By: /s/ Ram Aiyar Name: Ram Aiyar Title: President and Chief Executive Officer