New Enterprise Associates 17, L.P. 4

What Happened
New Enterprise Associates 17, L.P. (NEA 17), a reported 10% owner of Korro Bio, acquired common stock and pre‑funded warrants of Korro Bio on March 10, 2026. NEA 17 purchased 207,100 shares at $11.11 each for $2,300,881 and also acquired 242,945 pre‑funded warrants (derivative) at $11.11 each for $2,698,876, for a combined total of $4,999,757 (~$5.0M). The purchases were made from the issuer pursuant to a Subscription Agreement dated March 9, 2026 — a direct purchase (purchase code P), which is generally viewed as a bullish signal since the investor added to its position.

Key Details

• Transaction dates: March 10, 2026; Form 4 filed March 12, 2026 (report period 3/10/2026) — filing appears timely.
• Prices and amounts: 207,100 shares @ $11.11 = $2,300,881; 242,945 pre‑funded warrants @ $11.11 = $2,698,876. Total = $4,999,757.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnotes of note:
  • Securities were acquired from the issuer under a Subscription Agreement dated March 9, 2026.
  • The securities are directly held by NEA 17 and indirectly held by related NEA entities and managers, who disclaim beneficial ownership of portions where they have no pecuniary interest.
  • The derivative instruments are pre‑funded warrants exercisable into common stock, but exercise is subject to a ownership cap (cannot be exercised to cause ownership to exceed 9.99% of outstanding shares unless the holder gives 61 days’ prior notice to raise that cap up to 19.99%).

Context

• This is an institutional (10% owner) purchase from the company, not an executive’s personal trade — institutional purchases can signal confidence but do not convey insider executive intent.
• The derivative portion are pre‑funded warrants (convertible to common stock). The filing notes an exercise limitation designed to avoid exceeding a specified ownership threshold.
• No indications of late filing were shown in the provided data.