Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 858

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 7A
Chunk 858
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 the holders of Common Stock
of the Company and shall be entitled to that number of votes equal to ten votes for the number of shares of Common Stock into which such
holder’s shares of Preferred Stock could then be converted in accordance with conversion rights.

    F-21

Dividends — The
Company shall pay dividends on shares of Series A Preferred Stock equal (on an as-if-converted-to-Common-Stock basis) to and in the same
form as dividends actually paid on shares of the Common Stock when, as and if such dividends are paid on shares of the Common Stock. No
other dividends shall be paid on shares of Preferred Stock.

Liquidation Rights —
In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of shares of Series A
Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Company available for distribution to its stockholders,
before any payment shall be made to the holders of Common Stock by reason of their ownership thereof, an amount in cash equal to the aggregate
liquidation value of all shares held by such holder. The Series A Preferred Stock is not participating preferred.

Conversion Rights — On
or after the date of issuance, any holder of Series A Preferred Stock shall have the right by written election (a “Series A Election
Notice”) to the Company to convert all or any portion of the outstanding Shares of Series A Preferred Stock held by such holder
into an aggregate number of shares of Common Stock as is determined by multiplying the number of Shares to be converted by ten (10) (the
“Conversion Ratio”).

Common Stock — The
Company has 350,000,000 authorized shares of Common Stock, par value $0.0001 per share. At June 30, 2025 and 2024, there were 177,392,907
and 158,452,644 shares issued and outstanding, respectively.

Voting — Holders
of Common Stock are entitled to one vote for each share held of record on each matter submitted to a vote of stockholders, including the
election of directors, and do not have any right to cumulate votes in the election of directors.

Dividends — Holders
of Common Stock are entitled to receive ratably such dividends as the Company’s Board of Directors from time to time may declare
out of funds legally available.

Liquidation Rights —
In the event of any liquidation, dissolution or winding-up of the affairs of the Company