OtherApr 9, 2026, 04:06 PM
Galera Therapeutics Converts 76.4M Preferred Shares to Common, Ikarian Capital Exercises Warrants for 8.4M Common Shares
AI Summary
Galera Therapeutics, Inc. announced significant changes to its capital structure, including the conversion of 76,479.175 shares of Series B Non-Voting Convertible Preferred Stock into 76,479,164 shares of common stock on April 7, 2026. This conversion substantially increases the company's common share count. Additionally, on April 8, 2026, affiliates of Ikarian Capital, LLC exercised pre-funded warrants to acquire 8,488,229 shares of common stock, contributing approximately $8,488.23 in cash to the company. These actions reflect ongoing adjustments to the company's equity base and the monetization of existing financial instruments.
Key Highlights
- On April 7, 2026, Galera Therapeutics converted 76,479.175 shares of Series B Non-Voting Convertible Preferred Stock into 76,479,164 shares of Common Stock.
- Following this conversion, 42,839.11 shares of Series B Preferred Stock remain issued and outstanding.
- On April 8, 2026, affiliates of Ikarian Capital, LLC exercised pre-funded warrants to purchase 8,488,229 shares of Common Stock.
- The warrant exercise generated approximately $8,488.23 in cash for the company at an exercise price of $0.001 per share.
- After the exercise, pre-funded warrants to purchase an additional 14,552,811 shares of Common Stock remain outstanding.
Price Impact
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