Company: LNAI
Filing Date: 2025-07-30
Form Type: DEF 14A
Source: 0001731122-25-001053
Chunk: 20

Company: Lunai Bioworks Inc.
Filing Date: 2025-07-30
Form: DEF 14A
Chunk 20
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ate adjustments be made to the conversion rate, the per share exercise price and the number of shares issuable upon the
vesting, exercise or conversion of the outstanding derivative securities issued by us, in accordance with the Final Split Ratio. The adjustments
to such securities, as required by the Reverse Split and in accordance with the Final Split Ratio, would result in approximately the same
aggregate price being required to be paid under such securities upon exercise, and approximately the same value of shares of common stock
being delivered upon such exercise or conversion, immediately following the Reverse Split as was the case immediately preceding the Reverse
Split.

Effect on the Company’s Stock Plans

As of July 15, 2025
no shares of our common stock were issuable upon vesting of outstanding restricted stock units under our 2023 Stock Incentive Plan, and
a total of 3,093,444 shares of our common stock reserved for future issuance under our 2023 Stock Incentive Plan, Officer and Director
Share Purchase Plan and Employee Stock Purchase Plan (collectively, the “Plans”). Pursuant to the terms of the Plans, our
Board, or a designated committee thereof, as applicable, will adjust the number of shares of common stock underlying outstanding awards
and other terms of outstanding awards issued pursuant to the Plans to equitably reflect the effects of the Reverse Split. The number of
shares available for future grant under the Plans will be similarly adjusted.

Effective Date

The Reverse Split would become
effective at the time of filing of the Reverse Split Amendment with the office of the Secretary of State of the State of Delaware. At
the effective time of the Reverse Split Amendment, issued and outstanding shares of common stock and any shares of common stock held in
treasury, in each case, immediately prior thereto will be reclassified and combined, automatically and without any action on the part
of our stockholders, into new shares of common stock in accordance with the Final Split Ratio set forth in this Proposal 1. If the Reverse

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Split Amendment is not approved by our stockholders,
the Reverse Split will not occur. Even if the Reverse Split Amendment is approved by our stockholders, our Board, in its sole discretion,
may determine to abandon the Reverse Split Amendment, in which case the Reverse Split will not occur.

Treatment of Fractional Shares

No fractional shares will
be issued in connection with the Reverse Stock Split; rather, any fractional share resulting from the Reverse Stock Split will