Omega Therapeutics Restructuring Committee Approved Workforce Reduction Of Up To 17 Employees For Cost-Reduction Amid Chapter 11 Case And Potential Asset Sale

https://www.sec.gov/ix?doc=/Archives/edgar/data/1850838/000119312525019359/d927659d8k.htm

 

On February 3, 2025, the Company, with the approval a restructuring committee of the Board (the "Restructuring Committee"), entered into a retention letter agreement with each of Kaan Certel, the Company's Chief Executive Officer, and Barbara Chan, the Company's Senior Vice President, Finance and Chief Accounting Officer and agreed to pay a retention bonus to each of Mr. Certel and Ms. Chan in the amount of $40,000 and $81,400, respectively. The retention bonus is subject to the recipient's obligation to repay the net after-tax bonus in the event that the recipient's employment with the Company is terminated by the Company for cause, or the recipient resigns without good reason, prior to the earlier of (a) June 30, 2025, (b) the effective date of the recipient's termination of employment by the Company other than for cause or (c) the closing of a "Sale Transaction" as defined in and contemplated under the RSA.

Item 8.01. Other Events.

On February 3, 2025, the Restructuring Committee approved a reduction in the Company's current workforce by up to 17 employees, effective immediately. The Restructuring Committee's decision was based on cost-reduction initiatives intended to reduce the Company's ongoing operating expenses in connection with the transactions described in Item 1.01 of this Current Report related to the Chapter 11 Case and the potential sale of all or substantially all of the Company's assets