Company: PGEN
Filing Date: 2025-08-19
Form Type: S-3
Source: 0000950103-25-010472
Chunk: 26

Company: PRECIGEN, INC.
Filing Date: 2025-08-19
Form: S-3
Chunk 26
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Event). If the Reorganization Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single
type of consideration (determined based in part upon any form of shareholders election), then the Reference Property into which the Preferred
Stock will be convertible will be deemed to be the weighted average of the types and amounts of consideration received by the holders
of Common Stock that affirmatively make such an election. We will notify holders of the Preferred Stock of such weighted average
as soon as practicable after such determination is made. We will not become a party to any Reorganization Event unless its
terms are consistent with the provisions described above. None of the foregoing will affect the right of a holder of Preferred
Stock to convert its Preferred Stock into shares of our Common Stock prior to the effective time of such Reorganization Event. Notwithstanding
the anti-dilution adjustments to the conversion rate of the Preferred Stock contained in our Articles of Incorporation, no adjustment
to the conversion rate will be made for any Reorganization Event to the extent stock, securities or other property or assets become the
Reference Property receivable upon conversion of Preferred Stock. If, in connection with any Reorganization Event, the relevant Reference
Property is comprised, in whole or in part, of

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common equity, we will provide, by amendment to our
Articles of Incorporation effective upon any such Reorganization Event, for anti-dilution and other adjustments with respect to such common
equity that will be as nearly equivalent as is possible to the adjustments provided for in our Articles of Incorporation. The provisions
described in this paragraph will apply to successive Reorganization Events.

At any time on or after December 30, 2027, we
will have the right, at our option, to give notice of our election to cause all outstanding shares of Preferred Stock to be mandatorily
converted into shares of Common Stock at the conversion rate in effect on the date of such mandatory conversion. We may exercise
our right to cause a mandatory conversion only if the closing sale price of the Common Stock equals or exceeds $4.00 (subject to customary
adjustments inversely proportional to the conversion rate) for at least 20 trading days (whether or not consecutive) in a period of 30
consecutive trading days ending on, and including, the trading day immediately preceding the business day on which we issue a press release
announcing the mandatory conversion. We may not