Company: PGEN
Filing Date: 2025-08-19
Form Type: S-3
Source: 0000950103-25-010472
Chunk: 9

Company: PRECIGEN, INC.
Filing Date: 2025-08-19
Form: S-3
Chunk 9
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 but instead is subject to decrease if the arithmetic
average of the closing sale prices of our Common Stock over the five trading day period ending on, and including, the last trading day
of the fiscal quarter immediately preceding the date of such conversion exceeds approximately $1.125 per share of our Common Stock. If
such arithmetic average on any conversion date is equal to or less than approximately $1.125 per share of Common Stock, each share of
Preferred Stock will be convertible into 888.8888 shares of Common Stock per $1,000 of Stated Value on such conversion date. However,
if on any conversion date such arithmetic average exceeds approximately $1.125 per share of Common Stock, then the conversion rate for
purposes of such conversion will be a number of shares of Common Stock per $1,000 of Stated Value (as defined under “Description
of Capital Stock—8.00% Series A Convertible Perpetual Preferred Stock”) equal to $1,000 divided by such arithmetic average. As
a result, holders of Preferred Stock who convert their Preferred Stock on a conversion date on which such arithmetic average exceeds approximately
$1.125 will receive shares of our Common Stock with an aggregate market value upon conversion that exceeds the aggregate Stated Value
and liquidation preference of such shares of Preferred Stock only to the extent that the market price of shares of our Common Stock on
such date exceeds such

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arithmetic average. Accordingly, holders
of our Preferred Stock may not be able to realize the benefit of any or all increases in the market price of our Common Stock from the
date on which they acquire the shares of Preferred Stock offered hereby. See “Description of Capital Stock—8.00% Series A
Convertible Perpetual Preferred Stock—Conversion.”

If we exercise our right to mandatorily convert the Preferred Stock, holders of Preferred Stock may receive consideration with an aggregate market value that is less than the liquidation preference represented by their shares of Preferred Stock.

The Preferred Stock will be convertible into Common
Stock at our option at any time on or after December 30, 2027 if the closing sale price per share of our Common Stock equals or exceeds
$4.00 for a period of at least 20 trading days (whether or not consecutive) in a period of 30 consecutive trading days ending on, and
including, the trading day immediately preceding the business day on which we issue a press release announcing such mandatory conversion. The