Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 156

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 156
---
561,010
shares of Preferred Stock, which were initially convertible into an aggregate of 5,610,100
shares of Common Stock. In connection with the private placement, the Company sold warrants to purchase an aggregate of 2,805,050
shares of Common Stock. The warrants are exercisable for five years from the date of issuance and have an exercise price of $0.65
per share, payable in cash.

On February 13, 2024 pursuant
to the acquisition of Renovaro Cube, the 561,010shares
of Preferred Stock were converted into an aggregate of 5,610,100shares
of Common Stock. As of June 30, 2024 there were zero shares of Preferred Stock outstanding. The extinguishment loss of $120,018 is
recorded in Other Income/Loss in the Statement of Operations (see Note 8).

June 2024 Private Placement

On
June 14, 2024, Renovaro Inc., a Delaware corporation (the “Company”)
closed a private placement of 5,315,215
of the Company’s units, each such Unit consisting of (i) one share of the Company’s common stock, $0.0001
par value per share and (ii) one common stock purchase warrant to purchase one-tenth of a share of Common Stock, with certain
investors (the “Private Placement”). The Warrants are exercisable for five years from the date of issuance and have an
exercise price of $1.4726 and $1.4765
per share, payable in cash.

The Private
Placement was completed pursuant to Regulation S promulgated under the Securities Act of 1933, as amended (“Regulation S”).

In the Private Placement, the
Company sold 2,325,869 Units at a price per Unit equal to $1.4726to a certain investor who
paid in cash and settlement of debt an aggregate amount of $3,425,075 in consideration for
the Units.

Additionally, the Company sold
2,671,631 Units to certain investors who surrendered and terminated $ 3, 955,033
in aggregate principal amount and interest accrued thereon of certain convertible promissory notes issued by the Company in 2023 and 2024
and paid in cash an aggregate amount of $478,060 to the Company in consideration for the Units.

Additionally,
the Company sold 317,715 Units to an investor who surrendered and