Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 97

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 of $25.0 million, which is available, subject to certain conditions, until June 29, 2027 (such tranches, collectively, the “Term Loans”). The Term Loans mature on September 3, 2030 (the “Maturity Date”). Beginning on December 31, 2028, the Term Loans require eight equal quarterly principal payments of $12.5 million (adjusted for any borrowings under the second tranche, if any) until maturity, and all remaining outstanding amounts, if any, become due and payable on September 3, 2030. Interest rates for borrowings under the Loan Agreement are determined by a secured overnight financing rate ("SOFR") plus a margin. The interest rate for the Term Loans is based upon the sum of (a) the applicable margin (6.50%), and (b) the 3-month forward-looking term rate based on SOFR, subject to a floor of 3.75%. The Term Loans bear interest at Term SOFR (three-month tenor), subject to a 3.75% floor, plus 6.50%, payable 

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quarterly.  The effective interest rate of the Term Loan, including amortization of debt issuance costs was 12.5% for the three months ended September 30, 2025. No repayment of principal was made during the three months ended September 30, 2025.The Company’s obligations under the Loan Agreement are secured by substantially all of its U.S. assets, including intellectualproperty, and are guaranteed by certain of its subsidiaries, each of which has pledged substantially all of its assets to secure such guarantee.The following table reflects the Company's long-term debt as of September 30, 2025 and December 31, 2024, respectively:September 30, 2025December 31, 2024Outstanding principal balance$100,000 $— Unamortized debt discount and issuance costs(7,110)— Carrying value$92,890 $— The effective interest rate of the Term Loan, including amortization of debt issuance costs was 12.5% for the three months ended September 30, 2025. No repayment of principal was made during the three months ended September 30, 2025.The Company incurred $7,182 of debt discount and debt issuance costs for the Term Loans, which are capitalized and deferred when incurred and subsequently amortized over the term of the Term Loans. Interest expense