Company: KROS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001664710-25-000046
Chunk: 309

Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 309
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 and disinterested directors, to oversee the process, or the Strategic Committee, and make a recommendation to the full board of directors. The Strategic Committee, with the assistance of outside financial and legal advisors, intends to consider a comprehensive range of strategic alternatives, including but not limited to a sale of us or other business combination transaction, continued investment in our pipeline and/or return of excess capital to stockholders. There can be no assurance that the strategic alternatives review process will result in us pursuing a transaction or any other strategic outcome. There is no deadline or definitive timetable set for completion of the strategic alternatives review process. We intend to provide a preliminary update regarding the status of the process within 60 days of the initial announcement of this process. Otherwise, we do not intend to disclose developments related to the process unless and until it is determined that further disclosure is appropriate or necessary.

In April 2025, we also announced that our board of directors declared a dividend of one right, or Right, to purchase one-thousandth of one share of our newly designated Series A Junior Participating Preferred Stock, par value $0.0001 per share, or the Preferred Shares, for each outstanding share of common stock to the stockholders of record as of the close of business on April 24, 2025, and adopted a limited-duration stockholder rights plan, or the Rights Plan, effective immediately.  The Rights will expire on April 9, 2026, unless the rights are earlier redeemed or exchanged by us. The Rights Plan is intended to protect the interests of the company and our stockholders, help ensure that all interested parties have the opportunity to participate fairly in the strategic review process and to provide our board of directors time to make informed decisions. The Rights Plan will reduce the likelihood that any entity, person or group gains control of us through open-market accumulation without paying all stockholders an appropriate control premium. The Rights Plan does not preclude our board of directors from engaging with parties or considering proposals or other strategic alternatives that it believes recognize the full value of the company and are in the best interests of the company and all stockholders.

In April 2025, we announced that we entered into a letter agreement, or Letter Agreement, with Pontifax (Israel) IV, L.P., Pontifax (Cayman) IV, L.P., Pontifax (China) IV, L.P. and Pontifax Late Stage Fund L.P., or collectively, Pontifax, which provides that, among other things, we will nominate each of Mary Ann