Company: PGEN
Filing Date: 2025-05-06
Form Type: PRE 14A
Source: 0001140361-25-017535
Chunk: 36

Company: PRECIGEN, INC.
Filing Date: 2025-05-06
Form: PRE 14A
Chunk 36
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 December 31, 2024, there were approximately 70,222,215 shares of Common Stock initially underlying the Series A Preferred Stock and 52,666,669 shares of Common Stock initially underlying the Warrants. The Proposal We are asking our shareholders to approve an amendment to the Articles of Incorporation to increase the number of authorized shares of Common Stock (the “Proposed Amendment”). Subsection B of Article III of the Articles of Incorporation, as amended by the Proposed Amendment, is set forth below:

| B. | The aggregate number of shares that the Corporation shall have authority to issue shall be 25,000,000 shares of Preferred Stock, no par value per share (hereinafter called “Preferred Stock”), and 700,000,000 shares of Common Stock, no par value per share (hereinafter called “Common Stock”). |

Except as set forth above, Article III of the Articles of Incorporation would remain unchanged by this amendment. The relative rights of the holders of Common Stock under the Articles of Incorporation would also remain unchanged. In connection with the Private Placement, we agreed, and the Board believes it is in the best interest of the Company, to increase the number of authorized shares of Common Stock in order to ensure that there is a sufficient number of authorized shares of Common Stock reserved for issuance of the Maximum Number of Underlying Shares. Further, the Board believes it is in the best interests of the Company to increase the number of authorized shares of Common Stock by an additional 300,000,000 shares in order to give the Company greater flexibility in considering and planning for future general corporate needs, including, but not limited to, grants

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TABLE OF CONTENTS under equity compensation plans, stock splits, financings, potential strategic transactions, and other general corporate transactions. The Board also believes that additional authorized shares of Common Stock will enable the Company to take timely advantage of market conditions and favorable financing and acquisition opportunities that may become available to the Company by allowing the issuance of such shares without the expense and delay of another shareholder meeting. The additional shares of Common Stock to be authorized will have rights identical to the currently outstanding Common Stock. The Company has no present plan, agreement, or understanding involving the issuance of Common Stock, except for shares required or permitted to be issued under the Company’s 2019 Incentive Plan for Non-Employee Service Providers and the Company’s 2023 Omnibus Incentive Plan and upon conversion of the Series A Preferred Stock and exercise of the Warrants. It