Korro Bio Enters Agreement for $85 Million Financing
Korro Bio entered into a subscription agreement for a private investment in public equity financing that is expected to result in gross proceeds of approximately $85 million to the Company, before placement agent fees and offering expenses. The PIPE financing is expected to close on or about Tuesday, March 10, 2026, subject to satisfaction of customary closing conditions. The PIPE financing was led by Venrock Healthcare Capital Partners, and participation from new and existing investors, including ADAR1 Capital Management, Affinity Asset Advisors, Balyasny Asset Management, Driehaus Capital Management, Kalehua Capital, Lynx1 Capital Management, Nantahala Capital, and New Enterprise Associates. Pursuant to the terms of the subscription agreement, Korro is selling an aggregate of 4,501,928 shares of its common stock at a purchase price of $11.11 per share and pre-funded warrants to purchase 3,148,836 shares of its common stock at a price of $11.109 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.001 per share. Citigroup along with Cantor, Oppenheimer & Co., and William Blair are acting as placement agents for the PIPE financing.
