Company: PGEN
Filing Date: 2025-08-19
Form Type: S-3
Source: 0000950103-25-010472
Chunk: 27

Company: PRECIGEN, INC.
Filing Date: 2025-08-19
Form: S-3
Chunk 27
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 authorize, issue a press release or give notice of any mandatory conversion unless, prior
to giving the mandatory conversion notice, all Accumulated Dividends on the Preferred Stock (whether or not declared) for all dividend
periods ended prior to the date of such mandatory conversion notice will have been paid. Upon any mandatory conversion of any outstanding
share of Preferred Stock, we will pay in cash on the related settlement date in respect of such mandatory conversion to the holder thereof
all Accumulated Dividends thereon as of the related mandatory conversion date, whether or not declared by our board of directors (or an
authorized committee thereof) (the “Additional Conversion Amount”), provided that if upon the conversion of such shares of
Preferred Stock we do not have sufficient funds legally available to pay the Additional Conversion Amount, then we will pay the portion
of the Additional Conversion Amount that we are so legally able to pay on the related settlement date and will pay such excess amount
as soon as we have funds legally available therefor, and the amount of such unpaid dividends will accrue interest at a rate equal to the
Dividend Rate that would then be applicable in the absence of the mandatory conversion until paid.

Certificated securities

The shares of our Preferred Stock offered hereby
were issued in physical, certificated form and are transferable only on the books and records of the registrar and transfer agent for
our Preferred Stock in accordance with the procedures for transfer and exchange set forth in our Articles of Incorporation.

Anti-Takeover Effects of Provisions of our Articles of Incorporation
and Bylaws and of Virginia Law

Our Articles of Incorporation, Bylaws, and Virginia
law contain provisions that may have the effect of impeding the acquisition of control of us by means of a tender offer, a proxy contest,
open market purchases, or otherwise in a transaction not approved by our board of directors. These provisions are designed to reduce,
or have the effect of reducing, our vulnerability to coercive takeover practices and inadequate takeover bids. The existence of these
provisions could limit the price that investors might otherwise pay in the future for shares of Common Stock. In addition, these provisions
make it more difficult for our shareholders to remove our board of directors or management, should they choose to do so.

Articles of Incorporation and Bylaws

Undesignated preferred stock. Our Articles
of Incorporation authorize our board to establish one or more series of preferred stock and to determine, with respect to any series of
preferred stock, the preferences