Hengrui unit converts Kailera preferred to common
Hengrui (USA) Ltd., a wholly owned subsidiary of Jiangsu Hengrui Pharmaceuticals Co., Ltd., converted its Series A-2 preferred holdings in Kailera Therapeutics into common stock.
Rhea-AI Filing Summary
Hengrui (USA) Ltd., a wholly owned subsidiary of Jiangsu Hengrui Pharmaceuticals Co., Ltd., converted its Series A-2 preferred holdings in Kailera Therapeutics into common stock. On the conversion date, 2,034,133 and 9,477,719 shares of common stock were received from Series A-2 convertible non-voting and Series A-2 convertible preferred stock, respectively, at a stated price of $0.0000 per share. The preferred shares automatically converted into common immediately before Kailera’s initial public offering, leaving no remaining Series A-2 preferred outstanding and establishing a large direct common-stock position, plus 1 share held indirectly by Hengrui (USA) Ltd.
Positive
- None.
Negative
- None.
Insider Trade Summary
5,677,603 shares exercised/converted
Exercise
5 txns
Insider
Jiangsu Hengrui Pharmaceuticals Co., Ltd.
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A-2 convertible preferred stock | 4,968,789 | $0.00 | $0.00 |
| Conversion | Series A-2 convertible non-voting preferred stock | 708,814 | $0.00 | $0.00 |
| Conversion | Common Stock | 9,477,719 | $0.00 | $0.00 |
| Conversion | Common Stock | 2,034,133 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series A-2 convertible preferred stock — 0 contracts (Direct);
Series A-2 convertible non-voting preferred stock — 0 contracts (Direct);
Common Stock — 2,034,133 shares (Direct);
Common Stock — 1 shares (Indirect, By Hengrui (USA) Ltd.)
Footnotes (2)
- F1. The reported securities are directly held by Hengrui (USA) Ltd. Hengrui (USA) Ltd. is a wholly-owned subsidiary of Jiangsu Hengrui Pharmaceuticals Co., Ltd.
- F2. The Series A-2 convertible preferred stock and Series A-2 convertible non-voting preferred stock (collectively, the "Preferred Stock") of the Issuer are convertible into shares of Common Stock of the Issuer at the holder's election and have no expiration date. All shares of the Preferred Stock automatically converted into shares of Common Stock immediately prior to the closing of the Issuer's initial public offering of its Common Stock.
Key Figures
Common from non-voting preferred: 2,034,133 shares
Common from preferred: 9,477,719 shares
Series A-2 non-voting preferred converted: 708,814 shares
+2 more
5 metrics
Common from non-voting preferred
2,034,133 shares
Common stock received from Series A-2 convertible non-voting preferred on 2026-04-20
Common from preferred
9,477,719 shares
Common stock received from Series A-2 convertible preferred on 2026-04-20
Series A-2 non-voting preferred converted
708,814 shares
Series A-2 convertible non-voting preferred converted into common; derivative position reduced to zero
Series A-2 preferred converted
4,968,789 shares
Series A-2 convertible preferred converted into common; derivative position reduced to zero
Indirect common holding
1 share
Indirectly held common stock by Hengrui (USA) Ltd. after transactions
Key Terms
Series A-2 convertible non-voting preferred stock, Series A-2 convertible preferred stock, Preferred Stock, initial public offering, +1 more
5 terms
Series A-2 convertible non-voting preferred stock financial
"The Series A-2 convertible preferred stock and Series A-2 convertible non-voting preferred stock (collectively, the "Preferred Stock")"
Series A-2 convertible preferred stock financial
"The Series A-2 convertible preferred stock and Series A-2 convertible non-voting preferred stock"
Preferred Stock financial
"collectively, the "Preferred Stock" of the Issuer are convertible into shares of Common Stock"
Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.
initial public offering financial
"All shares of the Preferred Stock automatically converted into shares of Common Stock immediately prior to the closing of the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
Conversion of derivative security financial
"transaction_code_description: "Conversion of derivative security" for the preferred stock entries"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Jiangsu Hengrui report for Kailera Therapeutics (KLRA)?
Jiangsu Hengrui, through Hengrui (USA) Ltd., reported converting Series A-2 preferred stock into Kailera common shares. The filing shows millions of common shares issued upon conversion, rather than any open-market buying or selling activity.
Does Jiangsu Hengrui still hold any Series A-2 preferred stock of Kailera (KLRA)?
No Series A-2 preferred remains after conversion. The filing states all Series A-2 convertible preferred and Series A-2 convertible non-voting preferred shares automatically converted into Kailera common stock immediately before the company’s initial public offering.
Was this Kailera (KLRA) insider activity a market sale or purchase?
The transactions were conversions of preferred stock into common stock, not open-market purchases or sales. Transaction code C and descriptions in the filing classify them as derivative security conversions at a stated price of $0.0000 per share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
