Galera Therapeutics Completes Final Preferred Stock Conversion, Adding 42.8M Common Shares

summarizeSummary

Galera Therapeutics has completed the conversion of all remaining Series B Preferred Stock into 42.8 million common shares, a highly dilutive event that finalizes its preferred stock structure ahead of its merger and upcoming reverse stock split.

check_boxKey Events

• Final Preferred Stock Conversion

  All remaining 42,839.11 shares of Series B Non-Voting Convertible Preferred Stock were converted into 42,839,103 shares of common stock on May 15, 2026.

• Significant Dilution Ahead of Reverse Split

  The conversion adds approximately 42.8 million common shares, a substantial increase in the outstanding share count, which will be subject to the recently approved reverse stock split (1:75 to 1:200).

• Precedes Merger

  This finalizes the preferred stock structure as the company proceeds with its previously announced highly dilutive merger with Obsidian Therapeutics.

auto_awesomeAnalysis

This 8-K reports the conversion of all remaining Series B Preferred Stock into 42.8 million common shares. This event is highly dilutive, representing a substantial increase in the common share count, and finalizes a series of conversions that precede the company's announced merger with Obsidian Therapeutics. This conversion occurs ahead of the recently approved reverse stock split, meaning these shares will be subject to the split once it becomes effective.