Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 160

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 160
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 the acquisition of Renovaro Biosciences was completed. As part of the acquisition, the stockholders of Renovaro Biosciences received (i) 18,081,962 shares of Common Stock, and (ii) the right to receive Contingent Shares of Common Stock pro rata upon the exercise or conversion of warrants, which were outstanding at closing. As of June 30, 2024, nofurther Contingent Shares are issuable.

Acquisition of Renovaro Denmark

At June 30, 2024 and 2023, the Company maintained a reserve of 17,414Escrow Shares, all of which are reflected as issued and outstanding in the accompanying financial statements. The Escrow Shares are reserved to acquire the shares of Renovaro Denmark held by non-consenting shareholders of Renovaro Denmark on both June 30, 2024 and 2023, in accordance with Section 70 of the Danish Companies Act and the Articles of Association of Renovaro Denmark. There have been 167,639shares of Common Stock issued to non-consenting shareholders of Renovaro Denmark as of June 30, 2024. During the years ended June 30, 2024 and 2023, the Company did not issue any shares of Common Stock to such non-consenting shareholders of Renovaro Denmark.

Stock-based Compensation

The Company recognizes compensation costs for stock option awards to employees based on their grant-date fair value. The value of each stock option is estimated on the date of grant using the Black-Scholes option-pricing model. In the year ended June 30, 2024, the weighted-average assumptions used to estimate the grant date fair values of the stock options granted using the Black-Scholes option-pricing model are as follows:

F-29

| Schedule of weighted-average assumptions used to estimate the fair values of the stock options granted |     |               |                 |   |
|                                                                                                        |     | Renovaro Inc. |                 |   |
| Expected term (in years)                                                                               |     |               |       5.0 – 6.5 |   |
| Volatility                                                                                             |     |               | 84.33% – 114.88 | % |
| Risk free interest rate                                                                                |     |               |     3.12%- 4.83 | % |
| Dividend yield                                                                                         |     |               |               0 | % |

The Company recognized stock-based compensation expense related