Frequency Therapeutics : Termination of Material Agreement - Form 8-K
September 27, 2023 at 04:10 pm EDT
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Item 1.02.
Termination of a Material Definitive Agreement.
As previously disclosed, on December 10, 2021, Frequency Therapeutics, Inc. (the "Company" or "Frequency") entered into an Equity Distribution Agreement (the "Sales Agreement") with Oppenheimer & Co. Inc. ("Oppenheimer") to sell shares of the Company's common stock, par value $0.001 per share (the "Common Stock"), for aggregate gross sales proceeds of up to $125.0 million, from time to time, through an "at the market" equity offering program, with Oppenheimer acting as sales agent.
On September 26, 2023, the Company delivered written notice to Oppenheimer of termination of the Sales Agreement pursuant to Section 11(b) thereof, effective immediately. The Company is not subject to any termination penalties related to the termination of the Sales Agreement. As of September 26, 2023, the Company had sold 12,767 shares of Common Stock for net proceeds, after deducting sales agent commissions, of approximately $50,000.
A copy of the Sales Agreement was filed as Exhibit 1.1 to the Company's Current Report on Form 8-Kfiled with the Securities and Exchange Commission on December 10, 2021 (the "December 2021 8-K").Thedescription of the Sales Agreement contained in this Current Report on Form 8-K doesnot purport to be complete and is qualified in its entirety by reference to the copy of the Sales Agreement filed as Exhibit 1.1 to the December 2021 8-K.
Frequency Therapeutics Inc. published this content on 27 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2023 20:09:12 UTC.
Korro Bio, Inc. is a biopharmaceutical company. The Company discovers, develops, and commercializes genetic medicines based on editing ribonucleic acid (RNA), enabling treatment of both rare and highly prevalent diseases. The Company is generating a portfolio of differentiated programs that are designed to harness the bodyâs natural RNA editing process to effect a precise yet transient single base edit. By editing RNA instead of DNA, it is expanding the reach of genetic medicines. Its Oligonucleotide Promoted Editing of RNA (OPERA) is a foundational platform for RNA editing, which is designed to edit RNA in vivo by delivering an oligonucleotide guide that can target specific RNA sequences. The Companyâs first development candidate, KRRO-110, is in development as a potential treatment for Alpha-1 Antitrypsin Deficiency (AATD), that has the potential to be disease-modifying and provide a differentiated therapeutic option.
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