Galera Therapeutics adopts limited-duration poison pill after recent stock accumulations

Galera Therapeutics, Inc.

Board adopted Rights Agreement effective May 2, 2024, responding to recent accumulations of common stock.
Each outstanding common share receives one right; triggers at 10% beneficial ownership without Board approval.
Upon trigger, rights holders (except acquirer) can buy shares at 50% discount; rights expire May 2, 2025.
Record date for dividend of rights is May 20, 2024; exercise price $1.50 per right.

item 1.01 item 3.03 item 5.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Galera Therapeutics, Inc.: Board approved a Certificate of Designation creating Series A Junior Participating Preferred Stock in connection with the adoption of a stockholder rights agreement (effective 2024-05-03).

Change: charter amendment
Effective: 2024-05-03

Exact text from the filing

In connection with the adoption of the Rights Agreement described in Item 3.03 of this Current Report, the Board approved a Certificate of Designation of Series A Junior Participating Preferred Stock, which designates the rights, preferences and privileges of 200,000 shares of a series of the Company’s preferred stock, par value $0.001 per share, designated as Series A Junior Participating Preferred Stock.

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Source: SEC EDGAR

accession 0001193125-24-130779

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