Company: PGEN
Filing Date: 2025-08-19
Form Type: S-3
Source: 0000950103-25-010472
Chunk: 18

Company: PRECIGEN, INC.
Filing Date: 2025-08-19
Form: S-3
Chunk 18
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 PIK Dividend Payment Date, from, and including, December 30, 2024) to, but excluding, such
PIK Dividend Payment Date (such amount, the “Accumulated PIK Dividend Amount”), and as decreased by any payment of any Accumulated
PIK Dividend Amount that we elect to make, as described under “—Dividends,” below.

As used herein, “Accumulated Dividends”
means, with respect to any share of Preferred Stock, as of any date, the aggregate accumulated and unpaid dividends (excluding any Accumulated
PIK Dividend Amount by which the Stated Value has been increased on a PIK Dividend Payment Date as described under “—Dividends,”
below) on such share from December 30, 2024 until such date.

Dividends

Except as described in the second immediately
succeeding sentence, holders of shares of Preferred Stock will be entitled to receive, when, as and if declared by our board of directors
(or an authorized committee thereof) out of our funds legally available for payment, cumulative dividends in cash at the Dividend Rate.

Dividends on the Preferred Stock will be payable
annually in arrears at the Dividend Rate, and will accumulate, whether or not earned or declared, from the most recent date to which dividends
have been paid or added to the Stated Value, as the case may be, or, if no dividends have been paid or added to the Stated Value, from
December 30, 2024, and will be paid in cash. However, notwithstanding the immediately preceding sentence, on each PIK Dividend
Payment Date, the Stated Value will automatically be increased by the Accumulated PIK Dividend Amount, and holders of shares of Preferred
Stock will not be entitled to receive dividends in cash for accumulated dividends so added to the Stated Value except upon (1) a payment
made at our election as described in the second immediately succeeding sentence, (2) an optional redemption of the Preferred Stock (as
described under “—Optional redemption,” below) (3) a repurchase of the Preferred Stock upon a Fundamental Change (as
described under “—Repurchase upon a fundamental change,” below) or (4) our liquidation, winding-up or dissolution (as
described under “—Liquidation rights,” below). Dividends other than dividends subject to the exception described
in the immediately preceding sentence will be