Company: PGEN
Filing Date: 2025-08-19
Form Type: S-3
Source: 0000950103-25-010472
Chunk: 8

Company: PRECIGEN, INC.
Filing Date: 2025-08-19
Form: S-3
Chunk 8
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 will otherwise have voting rights only under limited circumstances.

Our payment of dividends on our Preferred Stock in
the future will be determined by our board of directors (or an authorized committee thereof) in its sole discretion and will depend on
business conditions, our financial condition, earnings and liquidity, and other factors. The agreements governing any future indebtedness
of ours may limit our ability to pay dividends on our capital stock, including the Preferred Stock. In addition, we are incorporated under
the Virginia Stock Corporation Act (the “VSCA”), which has restrictions prohibiting the payment of cash dividends if, after
giving effect to the dividend payment, (1) we would not be able to pay our debts as they become due in the usual course of business or
(2) our total assets would be less than the sum of our total liabilities plus the amount that would be required, if we were to be dissolved
at the time of the dividend, to satisfy the preferential rights upon dissolution of shareholders whose preferential rights are superior
to those receiving the dividend. Therefore, we may be unable to pay dividends on the Preferred Stock. Further, even if we are permitted
under our contractual obligations and Virginia law to pay dividends on the Preferred Stock, we may not have sufficient cash to pay dividends
in cash on the Preferred Stock.

In the event that our board of directors (or an authorized
committee thereof) determines in its sole discretion not to declare dividends on the Preferred Stock, or if dividends on the Preferred
Stock are declared but not paid, holders of our Preferred Stock will not receive voting rights, including the right to vote for any members
of our board of directors. Except with respect to certain amendments to the terms of the Preferred Stock and in certain other
limited circumstances, and except as specifically required by Virginia law, holders of the Preferred Stock will have no voting rights. See
“Description of Capital Stock—8.00% Series A Convertible Perpetual Preferred Stock—Voting.” Moreover,
if any holder of Preferred Stock converts such Preferred Stock at its option, we will not have an obligation to pay accumulated and unpaid
dividends to such holder upon such conversion.

The conversion rate of the Preferred Stock may decrease, and holders of our Preferred Stock may not be able to realize any or all of the benefit of any increases in the market price of shares of our Common Stock.

The number of shares of our Common Stock that a holder
of our Preferred Stock would receive upon conversion of our Preferred Stock is not fixed,