Precigen Inc. (PGEN) Prices 35.29M Share Offering at $0.85/sh

Precigen, Inc. (Nasdaq: PGEN) today announced the pricing of an underwritten public offering of 35,294,118 shares of its common stock at a public offering price of $0.85 per share. Precigen has also granted the underwriters a 30-day option to purchase up to an additional 5,294,117 shares of its common stock. Gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $30.0 million, excluding any exercise of the underwriters' option. The offering is expected to close on August 9, 2024, subject to customary closing conditions.

Stifel is acting as the sole book-running manager for the offering.

Precigen intends to use the net proceeds from the offering for advancing PRGN-2012 to regulatory approval and commercial readiness, limited clinical development of other pipeline assets, and for working capital and general corporate purposes. The net proceeds of the offering, together with Precigen's recently announced strategic reprioritization and streamlining of resources and cash on hand, are expected to fund Precigen's operations into early 2025.

The public offering is being made pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC) and became effective on January 17, 2024. The final prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement, when available, and accompanying prospectus relating to the offering may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at +1 (415) 364-2720 or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these shares in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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