NEA 17 fund linked to Korro Bio (KRRO) 10% owner adds shares, warrants
Rhea-AI Filing Summary
Florence Anthony A. Jr. reported open-market purchase transactions in this Form 4 filing.
Korro Bio, Inc. disclosed that investment fund New Enterprise Associates 17, L.P. (NEA 17), an entity associated with 10% owner Anthony A. Florence Jr., entered into a Subscription Agreement with the company. On March 10, 2026, NEA 17 acquired 242,945 Pre-Funded Warrants at $11.109 per underlying share and 207,100 shares of Common Stock at $11.11 per share. Following the transaction, NEA 17 held 242,945 pre-funded warrants (each exercisable into one share of Common Stock at $0.001 per share) and 1,297,893 shares of Common Stock. The pre-funded warrants are exercisable at any time but include a 9.99% beneficial ownership cap, which the holder may adjust upon 61 days' notice, not to exceed 19.99%. Florence is a manager of the NEA 17 general partner and disclaims beneficial ownership of portions of these securities in which he has no pecuniary interest.
Positive
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Insights
A 10% owner–affiliated fund increased its Korro Bio exposure via a direct purchase from the company.
The filing shows NEA 17, a fund associated with 10% owner Anthony A. Florence Jr., acquiring 242,945 Pre-Funded Warrants and 207,100 Common Shares under a Subscription Agreement dated March 9, 2026. This is a primary issuance by Korro Bio, not a secondary trade.
Pre-funded warrants behave economically like equity because they have a nominal $0.001 exercise price and are exercisable at any time, but they are constrained by a 9.99% ownership cap, adjustable up to 19.99% with 61 days' notice. That limiter affects how quickly the fund can convert its warrant position into common stock.
Florence is a manager of the NEA 17 general partner and is a 10% owner, yet he disclaims beneficial ownership of portions of the position where he lacks pecuniary interest. From a governance perspective, investors may focus on NEA 17’s enlarged stake and the ownership caps that shape its future ability to exercise the warrants.
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%.
