Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 161

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1B
Chunk 161
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 First Amended Complaint and G Tech and SRI filed a Cross-Complaint. In the Cross-Complaint,
G Tech and SRI seek declaratory and injunctive relief related to certain agreements between G Tech, SRI, and the Company, including, inter
alia, a declaration that the Framework Agreement, effective as of November 15, 2019, the Statement of Work & License Agreement,
effective as of January 31, 2020, and the Statement of Work and License Agreement for Influenza and Coronavirus Indications, effective
as of April 18, 2021, have been terminated and the Company has no rights to any license under such agreements. Trial was scheduled to
begin on March 3, 2025. On November 14, 2024, the court vacated the March 3, 2025, trial date and set a trial setting conference for May
1, 2025. At the May 1, 2025, trial setting conference, the court reset the trial to begin on November 30, 2026. Discovery remains ongoing.
The Company denies the allegations in Defendants’ cross claims and intends to vigorously defend against them while pursuing its
claims against the Defendants.

On June
7, 2023, Weird Science LLC (“Weird Science”), Wittekind, the William Anderson Wittekind 2020 Annuity Trust, the William Anderson
Wittekind 2021 Annuity Trust, the Dybul 2020 Angel Annuity Trust, and the Ty Mabry 2021 Annuity Trust (collectively, the “Trusts”)
(collectively, “Plaintiffs”) filed a Verified Complaint against the Company in the Court of Chancery of Delaware. In the Verified
Complaint, Plaintiffs alleged that the Company breached the February 16, 2018 Investor Rights Agreement between the Company, Weird Science,
and RS Group ApS (the “Investor Rights Agreement”). According to the Verified Complaint, the Investor Rights Agreement required
the Company to (i) notify all “Holders” of “Registrable Securities” at least 30 days prior to filing a registration
statement and (ii) afford such Holders an opportunity to have their Registrable Securities included in such registration statement. Plaintiffs
alleged that the Company breached these registration rights by failing to provide the required notice in connection with S-3 registration
statements filed by the Company on July