Korro announces $70 million private placement

Cambridge, mass., april 18, 2024 (globe newswire) -- korro bio, inc. (korro) (nasdaq: krro), a biopharmaceutical company focused on developing a new class of genetic medicines based on editing rna for both rare and highly prevalent diseases, announced today that it has entered into a subscription agreement with certain new and existing accredited investors to issue and sell an aggregate of 1,249,283 shares of its common stock in a private placement (pipe) that is expected to result in gross proceeds of approximately $70.0 million, before deducting placement agent fees and estimated offering expenses. the pipe is expected to close on april 22, 2024, subject to the satisfaction of customary closing conditions.
KRRO Ratings Summary
KRRO Quant Ranking