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

Company: PRECIGEN, INC.
Filing Date: 2025-08-19
Form: S-3
Chunk 25
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 a conversion price of approximately $1.125
per share of Common Stock), provided, however, that if, as of the conversion date for any conversion, the arithmetic average of the closing
sale prices of our Common Stock for each trading day during the period of five consecutive trading days ending on, and including, the
last trading day of the immediately preceding fiscal quarter exceeds the conversion price otherwise in effect on such conversion date,
then the conversion rate for purposes of such conversion for each $1,000 of Stated Value will be deemed to be equal to $1,000 divided
by such arithmetic average. The conversion rate is also subject to customary anti-dilution adjustments as specified in our
Articles of Incorporation.

Immediately prior to the close of business on
the conversion date with respect to a conversion, a converting holder of Preferred Stock will be deemed to be the holder of record of
our Common Stock issuable upon conversion of such holder’s Preferred Stock notwithstanding that our share register will then be
closed or that certificates representing such Common Stock will not then be actually delivered to such holder.

In the case of: (i) any recapitalization, reclassification
or change of our Common Stock (other than changes resulting from a subdivision or combination), (ii) any consolidation, merger or combination
involving us, (iii) any sale, lease or other transfer to a third party of our consolidated assets and those of our subsidiaries substantially
as an entirety, or (iv) any statutory share exchange, in each case, as a result of which our Common Stock is converted into, or exchanged
for, stock, other securities, other property or assets (including cash or any combination thereof) (any such transaction or event, a “Reorganization
Event”), then, at and after the effective time of such Reorganization Event, the right to convert each share of Preferred Stock
will be changed into a right to convert such share into the kind and amount of shares of stock, other securities or other property or
assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the conversion rate of
the Preferred Stock immediately prior to such Reorganization Event would have owned or been entitled to receive upon such Reorganization
Event (such stock, securities or other property or assets, the “Reference Property,” with each “unit of Reference Property”
meaning the kind and amount of Reference Property that a holder of one share of Common Stock is entitled to receive in the relevant Reorganization