Insider fund tied to Carmen Chang boosts Korro Bio (KRRO) stake with 450,045 buys
Rhea-AI Filing Summary
Korro Bio, Inc. reported that a 10% owner associated with Carmen Chang made significant indirect open-market purchases of its securities. On March 10, 2026, an entity affiliated with her acquired 242,945 Pre-Funded Warrants at $11.109 per warrant and 207,100 shares of Common Stock at $11.11 per share, totaling 450,045 securities.
The Pre-Funded Warrants were acquired from the company under a Subscription Agreement dated March 9, 2026 and are exercisable at any time, subject to a beneficial ownership cap of 9.99% of outstanding common stock, adjustable up to 19.99% with 61 days’ notice. The transactions are reported as indirect holdings through New Enterprise Associates 17, L.P., and Chang disclaims beneficial ownership of any portion in which she has no pecuniary interest.
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Insights
Entity linked to a 10% owner added 450,045 KRRO securities via indirect open-market and subscribed purchases.
An investment entity associated with 10% owner Carmen Chang acquired 242,945 Pre-Funded Warrants and 207,100 Common Shares of Korro Bio on March 10, 2026. These are reported as indirect holdings of New Enterprise Associates 17, L.P., with Chang serving in upstream general partner roles.
The Pre-Funded Warrants carry a de minimis exercise price of $0.001 per share and can be exercised at any time, but subject to a beneficial ownership cap of 9.99% of outstanding common stock, adjustable up to 19.99% with 61 days’ notice. This cap limits how many warrants can be turned into common stock at once.
The filing notes the securities were acquired from the issuer under a Subscription Agreement dated March 9, 2026, tying these purchases to a negotiated capital-raising transaction rather than routine secondary-market trading. Chang expressly disclaims beneficial ownership of portions in which she has no pecuniary interest, underscoring that economic exposure resides primarily at the fund level rather than personally.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Pre-Funded Warrants | 242,945 | $11.109 | $2.70M |
| Purchase | Common Stock | 207,100 | $11.11 | $2.30M |
Footnotes (1)
- Acquired from the Issuer on March 10, 2026 pursuant to a Subscription Agreement dated March 9, 2026. The Reporting Person is a manager of NEA 17 GP, LLC, which is the sole general partner of NEA Partners 17, L.P. ("NEA Partners 17"). NEA Partners 17 is the sole general partner of New Enterprise Associates 17, L.P. ("NEA 17"), the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise of such portion of the securities held by NEA 17 in which the Reporting Person has no pecuniary interest. The Pre-Funded Warrants are exercisable at any time after their issuance; provided, however, that the Pre-Funded Warrants may not be exercised to the extent such exercise would cause the number of shares of the Issuer's Common Stock owned by the holder (together with its affiliates and certain other related parties) to exceed 9.99% of the total number of shares of the Issuer's Common Stock immediately after giving effect to such exercise, which percentage may be increased or decreased at the option of the holder upon 61 days' prior notice to the Issuer, not to exceed 19.99%.
