Company: KROS
Filing Date: 2025-04-10
Form Type: 8-K
Source: 0001664710-25-000033
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Company: Keros Therapeutics, Inc.
Filing Date: 2025-04-10
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On April 9, 2025 the Board of Directors (the “ Board”) of Keros Therapeutics, Inc. (“ Keros” or the “ Company”), a Delaware corporation, declared a dividend of one right (“ Right”) to purchase one-thousandth of one share of the Company’s newly designated Series A Junior Participating Preferred Stock, par value $0.0001 per share (each, a “ Preferred Share” and collectively, the “ Preferred Shares”), for each outstanding share of common stock, par value $0.0001 per share, of the Company (“ Company Common Stock”) to the stockholders of record as of the close of business on April 24, 2025 (the “ Record Date”). The Company also adopted a limited duration stockholder rights plan (the “ Rights Plan”), effective immediately, as set forth in the Rights Agreement, dated as of April 9, 2025 (the “ Rights Agreement”), by and between the Company and Computershare Trust Company, N. A., as Rights Agent. The Rights Agent currently serves as the Company’s transfer agent with respect to the Company Common Stock and also has been appointed transfer agent with respect to the Preferred Shares, if any, that may be issued pursuant to the exercise of rights under the Rights Agreement. The Rights will expire on April 9, 2026 (“ Final Expiration Date”), unless the rights are earlier redeemed or exchanged by the Company. The Company does not have any obligation under the Rights Agreement to seek stockholder approval for the Rights Plan.

In general terms, the Rights Plan is designed to impose a penalty upon any person or group that acquires beneficial ownership of 10% (15% in the case of a passive institutional investor) or more of the outstanding shares of Company Common Stock without the approval of the Board. The Board adopted the Rights Plan in response to significant and rapid accumulations of the Company’s Common Stock by a number of investors who have indicated a desire to influence the control of Keros, including an individual investor which has informed the Company that it holds 11.2% of Keros’ outstanding common stock as of April 6, 2025. The Rights Plan is intended to protect the investment of Keros stockholders during a period in which it believes shares of the Company do not reflect the Company’s intrinsic value. The Rights Plan will reduce the likelihood that any entity, person or group gains control of Keros through open-market accumulation without