Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 88

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 88
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, Mr. Wolfe and
Crossfield, Inc. asserted claims for abuse of process and malicious prosecution, alleging, inter alia, that the Company lacked probable
cause to file and prosecute an earlier action, and sought millions of dollars of compensatory damages, as well as punitive damages. The
allegations in the Complaint relate to an earlier action filed by the Company and Renovaro Biosciences Denmark ApS in the Vermont Superior
Court, Orange Civil Division. On March 3, 2022, the Court partially granted the Company’s motion to dismiss, dismissing the abuse
of process claim against all defendants and all claims against Mark Dybul and Henrik Grønfeldt-Sørensen. On November 29,
2022, the Company filed a motion for summary judgment with respect to the sole remaining claim of malicious prosecution. On August 24,
2023, the Court denied the motion for summary judgment. Trial is currently scheduled to begin on July 15, 2024. The Company denies the
allegations set forth in the Complaint and will continue to vigorously defend against the remaining claim.

On June
7, 2023, Weird Science LLC (“Weird Science”), Wittekind, the William Anderson Wittekind 2020 Annuity Trust, the William Anderson
Wittekind 2021 Annuity Trust, the Dybul 2020 Angel Annuity Trust, and the Ty Mabry 2021 Annuity Trust (collectively, the “Trusts”)
(collectively, “Plaintiffs”) filed a Verified Complaint against the Company in the Court of Chancery of Delaware. In the Verified
Complaint, Plaintiffs alleged that the Company breached the February 16, 2018 Investor Rights Agreement between the Company, Weird Science,
and RS Group ApS (the “Investor Rights Agreement”). According to the Verified Complaint, the Investor Rights Agreement required
the Company to (i) notify all “Holders” of “Registrable Securities” at least 30 days prior to filing a registration
statement and (ii) afford such Holders an opportunity to have their Registrable Securities included in such registration statement. Plaintiffs
alleged that the Company breached these registration rights by failing to provide the required notice in connection with S-3 registration
statements filed by the Company on July 13, 2020 and February 11, 2022. The Company moved to dismiss the Verified Complaint on September
15,