Galera Therapeutics (GRTX) has issued an update.
Galera Therapeutics, Inc. has implemented a stockholder rights plan, issuing one Right per common share, allowing stockholders to buy a fraction of a preferred share at $1.50, aimed at preventing hostile takeovers. The plan comes into effect if an entity acquires a significant stake in the company without paying a premium, thus protecting all stockholder interests and granting the Board time to assess long-term decisions. These Rights, which will be attached to common shares, become exercisable only under specific conditions and are set to expire on May 2, 2025, unless certain events occur earlier.
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