LENZ Therapeutics, Inc. (LENZ): restructuring charge — Graphite Bio appoints new CEO, cuts 70% of workforce

LENZ Therapeutics, Inc.

Kimberlee C. Drapkin appointed President & CEO, effective Aug 21, 2023; base salary $550,000.
Board approved a restructuring plan reducing workforce by approximately 70%.
Estimated severance and related costs of ~$1.6 million, recorded primarily in Q3 2023.
Former CEO Josh Lehrer separated; entitled to Tier 1 severance and retention benefits.
Company continues exploring strategic alternatives as part of corporate restructuring.

item 8.01 item 2.05 item 5.02

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

LENZ Therapeutics, Inc. announced a restructuring with charges of approximately $1.6 million (approximately 70%).

Type: restructuring
Charge: approximately $1.6 million
Headcount: approximately 70%

Exact text from the filing

alternatives. Under the Plan, the Company is reducing its workforce by approximately 70%. The Company expects to incur estimated severance and related costs of approximately $1.6 million, which will be recorded primarily in the third quarter of 2023. As the Plan is implemented, the Company’s management will re-evaluate the estimated costs and expenses set forth

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

LENZ Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-044135

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