Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 7

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 4
Chunk 7
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 guarantee, pledge substantially all of their assets, including intellectual property, to

secure such guarantee. The Loan Agreement contains customary affirmative and restrictive covenants and representations and

warranties, which place restrictions on our operating and financial flexibility. We and our subsidiaries are bound by certain

affirmative covenants, including, without limitation, (i) information delivery requirements, (ii) obligations to maintain

insurance, (iii) preservation of intellectual property and regulatory approvals, and (iv) compliance with applicable laws.

Additionally, we and our subsidiaries are subject to certain restrictive covenants, including, without limitation, (i) limitations on

the incurrence of additional indebtedness, (ii) limitations on the incurrence of liens, (iii) restrictions on the payment of

dividends and other restricted payments, (iv) restrictions on investments, (v) restrictions on asset transfers, (vi) restrictions on

mergers and similar transactions, (vii) restrictions on amendments to organizational documents and material contracts, in each

case subject to specified exceptions, (viii) minimum net sales and (ix) minimum liquidity. The Loan Agreement also contains customary representations and warranties, including, without limitation, with respect to (i) organization, authority and

enforceability, (ii) financial condition, (iii) compliance with laws, (iv) intellectual property and regulatory matters, and (v) the

absence of a material adverse change.

Our indebtedness could also have important negative consequences for our security holders and our business, results of

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operations and financial condition, including:

• we will need to repay the indebtedness by making payments of interest and principal, which will reduce the amount of

cash available to finance our operations, our research and development efforts and other general corporate activities;

•our failure to comply with the obligations of our affirmative and restrictive covenants in the Loan Agreement could

result in an event of default that, if not cured or waived, would permit the Lenders to accelerate our obligation to repay

this indebtedness, and the Lenders could seek to enforce their security interest in the assets securing such indebtedness;

and

•we may be more vulnerable to downturns in our business, our industry or the economy in general.

In addition, we may borrow additional capital in the future to fund clinical development and our future growth, including

pursuant to the Loan Agreement or potentially pursuant to new arrangements with different lenders. To the extent additional

debt is added to