Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 159

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 159
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 share. The combined purchase price for one share of Common Stock and one Purchase Warrant was $ 1.14per share.

On February 10, 2023, there were 100,000restricted share units issued that immediately vested and were converted into shares of Common Stock in exchange for consulting services valued at $ 108,000.

On December 30, 2022, the Company issued 198,439shares of Common stock valued at $ 204,392based on the closing price of the common stock on that date, issued in lieu of prepaid interest related to the amended and restated secured notes (see Note 8).

On July 14, 2022, certain of our warrant holders exercised warrants to purchase 1,250,000shares of Common Stock for total proceeds to the Company of $ 1,625,000, with corresponding earn-out distribution of the same number of shares in connection with the acquisition of Renovaro Biosciences, based on the share price on that date of $ 2.21. This non-cash earn-out distribution impacted stockholders’ equity in the amount of $ 2,762,500based on the share price on July 14, 2022, of $ 2.21.

2017 Warrants

On July 14, 2022, certain of our warrant holders exercised warrants to purchase 1,250,000shares of Common Stock for total proceeds to the Company of $ 1,625,000, with corresponding earn-out distribution of the same number of shares in connection with the acquisition of Renovaro Biosciences. This non-cash earn-out distribution impacted stockholders’ equity in the amount of $ 2,762,500based on the share price on July 14, 2022 of $ 2.21. The Company recorded a loss on extinguishment of contingent consideration liability of $ 419,182during the year ended June 30, 2024 which reflected the difference between the fair value of the shares and the contingent consideration liability at the time of extinguishment. As of June 30, 2023, all outstanding warrants as of the date of acquisition of Renovaro Biosciences (the “2017 Warrants”) were exercised and there is no further contingent consideration liability related to the 2017 Warrants remaining as of June 30, 2024.

Acquisition of Renovaro Biopharma / Contingently issuable shares

On February 16, 2018,