Fund tied to Korro Bio (KRRO) director awarded stock and pre-funded warrants
Rhea-AI Filing Summary
Korro Bio, Inc. reported that investment entities associated with director and 10% owner Ali Behbahani acquired additional securities. On March 10, 2026, NEA 17 received 242,945 Pre-Funded Warrants, each exercisable into one share of Common Stock at $0.001 per share, subject to a 9.99% ownership cap that can be raised up to 19.99% with 61 days’ notice. The same day, NEA 17 was also awarded 207,100 shares of Common Stock at $11.11 per share, bringing its indirectly held Common Stock position to 1,297,893 shares. Behbahani is a manager of the NEA 17 general partners and disclaims beneficial ownership of portions in which he has no pecuniary interest.
Positive
- None.
Negative
- None.
Insights
Fund tied to a Korro Bio director increased its position via warrants and shares.
Entities related to Ali Behbahani acquired Pre-Funded Warrants and Common Stock directly from Korro Bio under a subscription agreement dated March 9, 2026. These are classified as grants or awards, not open-market purchases.
The 242,945 Pre-Funded Warrants carry a token $0.001 exercise price but include a Beneficial Ownership Limitation at 9.99%, adjustable up to 19.99% with 61 days’ notice. This clause governs how much can be exercised at any time.
Indirectly held Common Stock rose to 1,297,893 shares, but Behbahani disclaims beneficial ownership where he has no pecuniary interest. Overall, the transactions look like participation in a financing rather than a discretionary market bet, so their informational signal is modest.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Pre-Funded Warrants | 242,945 | $11.109 | $2.70M |
| Grant/Award | 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%.