Frequency Therapeutics to merge with Korro Bio in reverse merger; Korro valued at ~$325.6M

Korro Bio, Inc.

Korro Bio equity valued at ~$325.6M; Frequency equity based on net cash at closing.
Concurrent PIPE financing of ~$117M from accredited investors.
Combined company board: 4 from Korro, 1 from Frequency, 2 independent.
~98% of Korro stockholders and ~11.7% of Frequency stockholders support merger.
Frequency stockholders to receive CVRs for potential proceeds from MS asset sale.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Korro Bio, Inc. entered into Agreement and Plan of Merger with Frequency Therapeutics, Inc., Frequency Merger Sub, Inc. valued at approximately $325.6 million (effective 2023-07-14).

Action: entry
Agreement: merger
Counterparty: Frequency Therapeutics, Inc., Frequency Merger Sub, Inc.
Value: approximately $325.6 million
Effective: 2023-07-14

Exact text from the filing

On July 14, 2023, Frequency Therapeutics, Inc. (“ Frequency ” or the “ Company ”), Frequency Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“ Merger Sub ”), and Korro Bio, Inc., a Delaware corporation (“ Korro Bio ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Korro Bio, Inc. entered into Subscription Agreements with certain accredited investors valued at approximately $117 million (effective 2023-07-14).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: approximately $117 million
Effective: 2023-07-14

Exact text from the filing

On July 14, 2023, Korro Bio entered into subscription agreements with certain accredited investors for the Concurrent Financing with expected gross proceeds to Korro Bio of approximately $117 million.

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15 material agreements filed in the last 30 days. Browse all material agreements →

Korro Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-187318

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