Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 152

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 152
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 immediate requirements is typically invested primarily in money market funds, certificate of deposits and U.S. government debt securities in order to maintain liquidity and preserve capital.

In August 2024, we closed a public offering of 39,878,939 shares of our common stock, resulting in net proceeds to us of $30.9 million, after deducting underwriting discounts, fees, and an estimate of other offering expenses. 

In December 2024, we issued 79,000 shares of 8.00% Series A Convertible Perpetual Preferred Stock with an initial liquidation preference and stated value of $1,000 per share, together with warrants to purchase 52,666,669 shares of common stock for net proceeds of approximately $78.5 million, after deducting offering expenses. In September 2025, all of the holders of the Series A Convertible Perpetual Preferred Stock converted their 79,000 shares into 54,937,411 shares of our common stock.

In September 2025, the Company entered into a Loan Agreement with investment entities managed by Pharmakon Advisors, 

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LP.   The Company received net proceeds of $92,818 after deducting underwriting discounts and offering expenses of $7,182.

Cash flows

The following table sets forth the significant sources and uses of cash for the periods set forth below:

 Nine Months Ended  September 30, 20252024 (In thousands)Net cash (used in) provided by:Operating activities$(64,371)$(59,930)Investing activities(41,401)44,653 Financing activities90,562 32,179 Effect of exchange rate changes on cash, cash equivalents, and restricted cash15 (25)Net (decrease) increase in cash, cash equivalents, and restricted cash$(15,195)$16,877 

Cash flows from operating activities:

During the nine months ended September 30, 2025, our net loss was $227.1 million, which includes the following significant noncash expenses and benefits totaling $153.3 million: (i) $139.5 million of appreciation in the fair value of warrant liabilities prior to their reclassification to permanent equity in the third quarter of 2025, (ii) $3.9 million impairment of goodwill, (iii) $8.7 million of stock-based compensation expense, (iv) $2.1 million of depreciation and amortization expense, (v) $0